Edison International (NYSE:EIX) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its position in Edison International (NYSE:EIX) by 27.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,246 shares of the utilities provider’s stock after selling 46,291 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Edison International were worth $10,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in Edison International in the 3rd quarter valued at about $26,000. Eastern Bank acquired a new position in shares of Edison International in the third quarter worth about $27,000. Larson Financial Group LLC lifted its stake in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Edison International in the third quarter valued at about $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Edison International during the 2nd quarter valued at approximately $27,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on EIX shares. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Bank of America began coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Performance

EIX stock opened at $88.36 on Friday. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.11 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock’s fifty day moving average is $84.84 and its two-hundred day moving average is $80.46.

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

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid 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 dividend yield of 3.53%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. 1.03% of the stock is owned by insiders.

Edison International 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.