Edison International (NYSE:EIX) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its holdings in shares of Edison International (NYSE:EIX) by 10.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,535 shares of the utilities provider’s stock after purchasing an additional 932 shares during the period. First Trust Direct Indexing L.P.’s holdings in Edison International were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its holdings in Edison International by 5.2% in the third quarter. New York State Teachers Retirement System now owns 390,144 shares of the utilities provider’s stock valued at $33,978,000 after buying an additional 19,196 shares in the last quarter. Edge Financial Advisors LLC purchased a new position in Edison International in the third quarter valued at $768,000. Highline Wealth Partners LLC purchased a new position in Edison International in the third quarter valued at $26,000. Fidelis Capital Partners LLC increased its holdings in Edison International by 5.8% in the third quarter. Fidelis Capital Partners LLC now owns 13,504 shares of the utilities provider’s stock valued at $1,161,000 after buying an additional 746 shares in the last quarter. Finally, abrdn plc increased its holdings in Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after buying an additional 885,955 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Argus boosted their target price 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. Morgan Stanley boosted their target price on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada upped their target price 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. Finally, 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 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Edison International Trading Down 1.5 %

Shares of NYSE:EIX opened at $81.13 on Friday. Edison International has a 52 week low of $62.21 and a 52 week high of $88.77. The company’s 50 day moving average is $85.39 and its two-hundred day moving average is $78.73. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 1.96. The company has a market cap of $31.41 billion, a PE ratio of 23.79, a P/E/G ratio of 1.94 and a beta of 0.91.

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

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 3.85%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The shares were 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.03% of the company’s stock.

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.