Edison International (NYSE:EIX) Shares Sold by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC lowered its position in shares of Edison International (NYSE:EIX) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,556 shares of the utilities provider’s stock after selling 139 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Edison International were worth $1,006,000 as of its most recent filing with the SEC.

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

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.03% of the company’s stock.

Edison International Price Performance

EIX opened at $88.36 on Friday. The company has a 50-day moving average of $84.84 and a 200-day moving average of $80.46. The company has a market capitalization of $34.21 billion, a P/E ratio of 25.91, a PEG ratio of 2.11 and a beta of 0.92. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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. Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.