First Heartland Consultants Inc. Invests $212,000 in Edison International (NYSE:EIX)

First Heartland Consultants Inc. purchased a new stake in Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,429 shares of the utilities provider’s stock, valued at approximately $212,000.

Several other institutional investors have also recently bought and sold shares of the stock. Highline Wealth Partners LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International during the 2nd quarter valued at about $27,000. Eastern Bank bought a new position in shares of Edison International in the 3rd quarter valued at about $27,000. Country Trust Bank acquired a new stake in shares of Edison International during the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Royal Bank of Canada raised their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Argus upped their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Barclays lifted their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is owned by insiders.

Edison International Price Performance

Shares of NYSE EIX opened at $82.18 on Thursday. The company has a fifty day moving average price of $84.83 and a 200 day moving average price of $79.48. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The firm has a market cap of $31.82 billion, a PE ratio of 24.10, a PEG ratio of 1.98 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. Research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is presently 91.50%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.