Fidelis Capital Partners LLC Increases Position in Edison International (NYSE:EIX)

Fidelis Capital Partners LLC grew its position in Edison International (NYSE:EIX) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,504 shares of the utilities provider’s stock after buying an additional 746 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Edison International were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Eastern Bank acquired a new position in shares of Edison International in the third quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International in the 2nd quarter valued at about $27,000. Concord Wealth Partners grew its position in shares of Edison International by 277.0% during the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock worth $33,000 after buying an additional 277 shares in the last quarter. Country Trust Bank purchased a new stake in shares of Edison International during the second quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of Edison International stock opened at $83.14 on Wednesday. The firm has a market cap of $32.11 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The firm’s 50-day simple moving average is $85.52 and its 200-day simple moving average is $78.58. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. Edison International has a 1 year low of $62.09 and a 1 year high of $88.77.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.75%. Edison International’s payout ratio is presently 125.30%.

Insider Activity

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EIX. Bank of America initiated coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Evercore ISI increased their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Barclays lowered their price target on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Guggenheim boosted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.55.

About Edison International

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.