Edison International (NYSE:EIX) Shares Sold by Twin Lakes Capital Management LLC

Twin Lakes Capital Management LLC lowered its stake in shares of Edison International (NYSE:EIX) by 22.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 699 shares of the utilities provider’s stock after selling 207 shares during the quarter. Twin Lakes Capital Management LLC’s holdings in Edison International were worth $61,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EIX. CWM LLC increased its stake in Edison International by 19.0% during the 2nd quarter. CWM LLC now owns 11,687 shares of the utilities provider’s stock valued at $839,000 after purchasing an additional 1,867 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Edison International by 9.1% in the 2nd quarter. QRG Capital Management Inc. now owns 16,035 shares of the utilities provider’s stock valued at $1,151,000 after acquiring an additional 1,342 shares during the period. Sequoia Financial Advisors LLC raised its stake in Edison International by 4.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,456 shares of the utilities provider’s stock worth $535,000 after acquiring an additional 338 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Edison International by 19.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,856 shares of the utilities provider’s stock worth $1,929,000 after acquiring an additional 4,348 shares during the period. Finally, ORG Partners LLC purchased a new stake in Edison International during the 2nd quarter valued at about $394,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Edison International Stock Down 1.1 %

EIX opened at $83.05 on Tuesday. The stock has a market capitalization of $32.15 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 2.01 and a beta of 0.92. Edison International has a fifty-two week low of $63.15 and a fifty-two week 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. The company has a fifty day moving average of $84.67 and a two-hundred day moving average of $80.99.

Edison International (NYSE:EIX) last posted 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 return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the previous year, the business earned $1.38 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. On average, research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.76%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EIX shares. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Evercore ISI increased their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. 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 objective on the stock. Finally, Argus raised their target price 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

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.