308 Shares in Edison International (NYSE:EIX) Bought by Eastern Bank

Eastern Bank purchased a new position in Edison International (NYSE:EIX) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 308 shares of the utilities provider’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Equitable Trust Co. increased its holdings in Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 132 shares in the last quarter. TIAA Trust National Association grew its holdings in shares of Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after buying an additional 134 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of Edison International by 37.5% during the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after buying an additional 150 shares in the last quarter. Finally, Carson Advisory Inc. grew its holdings in shares of Edison International by 0.3% during the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock worth $3,864,000 after buying an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 2.0 %

Shares of EIX opened at $83.91 on Friday. The stock has a market capitalization of $32.40 billion, a PE ratio of 33.70, a P/E/G ratio of 1.98 and a beta of 0.91. Edison International has a 1 year low of $61.64 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The company’s 50-day simple moving average is $85.52 and its 200-day simple moving average is $78.25.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.72%. Edison International’s payout ratio is 125.30%.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred 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 in the company, valued at $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,104 shares of company stock worth $4,949,264. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Morgan Stanley upped their target price on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. 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. Argus boosted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Barclays lowered their price target on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.55.

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.