175,407 Shares in Edison International $EIX Bought by Private Advisory Group LLC

Private Advisory Group LLC purchased a new stake in shares of Edison International (NYSE:EIX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 175,407 shares of the utilities provider’s stock, valued at approximately $9,425,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EIX. BlackRock Inc. acquired a new stake in Edison International in the 2nd quarter valued at approximately $3,340,412,000. Legal & General Group Plc bought a new stake in Edison International during the 2nd quarter valued at $329,766,000. Bank of New York Mellon Corp bought a new stake in Edison International during the 2nd quarter valued at $309,361,000. Amundi raised its stake in Edison International by 27.0% during the 2nd quarter. Amundi now owns 3,570,726 shares of the utilities provider’s stock valued at $265,843,000 after acquiring an additional 759,236 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Edison International during the 2nd quarter worth $261,275,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter Taylor sold 500 shares of the business’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $55.56, for a total value of $27,780.00. Following the sale, the director owned 33,212 shares of the company’s stock, valued at approximately $1,845,258.72. The trade was a 1.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

EIX has been the subject of several recent analyst reports. HSBC started coverage on Edison International in a research note on Thursday, October 22nd. They issued a “hold” rating and a $56.50 price target for the company. Mizuho set a $63.00 price objective on shares of Edison International in a research note on Monday, November 2nd. Bank of America cut shares of Edison International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $81.00 to $51.00 in a research note on Tuesday, September 1st. JPMorgan Chase & Co. reduced their price objective on shares of Edison International from $61.00 to $59.00 and set a “neutral” rating for the company in a report on Monday, October 12th. Finally, Weiss Ratings lowered shares of Edison International from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $60.58.

Edison International Price Performance

NYSE EIX opened at $60.02 on Friday. Edison International has a 12 month low of $51.10 and a 12 month high of $81.62. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.77 and a quick ratio of 0.71. The firm has a market capitalization of $23.10 billion, a PE ratio of 6.38, a P/E/G ratio of 2.54 and a beta of 0.56. The company’s 50 day simple moving average is $56.45 and its 200 day simple moving average is $67.68.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, October 29th. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.81 by $0.11. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Edison International had a return on equity of 14.17% and a net margin of 20.50%. The firm’s quarterly revenue was down 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.34 earnings per share. As a group, equities research analysts forecast that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Wednesday, October 7th were given a dividend of $0.8775 per share. The ex-dividend date was Wednesday, October 7th. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. Edison International’s dividend payout ratio (DPR) is 37.30%.

Edison International Profile

Edison International is a holding company focused on electric power generation and delivery. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that serves homes and businesses across much of central and Southern California. SCE operates and maintains the electric grid, including transmission and distribution infrastructure, and works to support the region’s shift to cleaner energy. Edison International also provides energy advisory and management services through its Edison Energy business.