Pathstone Holdings LLC Decreases Stock Holdings in Edison International (NYSE:EIX)

Pathstone Holdings LLC lessened its stake in Edison International (NYSE:EIX) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,275 shares of the utilities provider’s stock after selling 2,914 shares during the quarter. Pathstone Holdings LLC’s holdings in Edison International were worth $2,811,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC purchased a new position in Edison International in the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International during the 2nd quarter valued at about $27,000. Eastern Bank acquired a new stake in Edison International in the 3rd quarter valued at about $27,000. Country Trust Bank purchased a new position in Edison International in the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on EIX. Evercore ISI increased their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Barclays raised their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Up 1.3 %

Shares of NYSE EIX opened at $87.60 on Tuesday. The business has a 50-day moving average of $84.66 and a two-hundred day moving average of $80.26. The company has a market capitalization of $33.91 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.07 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 current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the company posted $1.38 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.56%. Edison International’s dividend payout ratio is currently 91.50%.

Insider Activity at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.03% of the stock is owned by corporate insiders.

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.