Banco Santander S.A. Grows Position in Edison International (NYSE:EIX)

Banco Santander S.A. increased its position in Edison International (NYSE:EIX) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,582 shares of the utilities provider’s stock after purchasing an additional 1,612 shares during the period. Banco Santander S.A. owned 0.06% of Edison International worth $20,430,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in Edison International during the 3rd quarter valued at about $26,000. Eastern Bank purchased a new position in Edison International in the third quarter worth about $27,000. Prospera Private Wealth LLC bought a new position in shares of Edison International in the third quarter worth approximately $32,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International during the second quarter valued at approximately $27,000. Finally, Concord Wealth Partners increased 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 valued at $33,000 after acquiring an additional 277 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,878 shares of company stock valued at $4,285,422. Company insiders own 1.03% of the company’s stock.

Edison International Stock Up 0.6 %

Shares of EIX opened at $86.12 on Thursday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The firm has a market capitalization of $33.34 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.05 and a beta of 0.92. The firm has a fifty day moving average price of $84.57 and a 200-day moving average price of $79.94. 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 announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the business earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.62%. Edison International’s dividend payout ratio is currently 91.50%.

Analysts Set New Price Targets

EIX has been the topic of several recent analyst reports. Evercore ISI increased their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Argus boosted their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and an average target price of $88.75.

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.