Edison International (NYSE:EIX) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its stake in shares of Edison International (NYSE:EIX) by 11.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,940 shares of the utilities provider’s stock after purchasing an additional 3,389 shares during the quarter. Sanctuary Advisors LLC’s holdings in Edison International were worth $2,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new stake in shares of Edison International during the 3rd quarter valued at $26,000. Groupama Asset Managment lifted its position in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International during the 2nd quarter valued at $27,000. Eastern Bank purchased a new stake in shares of Edison International in the third quarter valued at $27,000. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of Edison International by 53.8% in the second 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 in the last quarter. 88.95% of the stock is owned by institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EIX. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. UBS Group increased their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Bank of America started coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average price target of $88.75.

Edison International Stock Performance

NYSE EIX opened at $80.47 on Wednesday. The firm’s fifty day moving average price is $84.11 and its two-hundred day moving average price is $81.29. The stock has a market cap of $31.15 billion, a PE ratio of 23.60, a PEG ratio of 1.96 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.

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

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 4.11%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is currently 97.07%.

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.