9,761 Shares in Edison International (NYSE:EIX) Purchased by Kestra Private Wealth Services LLC

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Kestra Private Wealth Services LLC purchased a new position in shares of Edison International (NYSE:EIX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,761 shares of the utilities provider’s stock, valued at approximately $497,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EIX. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Edison International by 37.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 23,219 shares of the utilities provider’s stock valued at $1,261,000 after buying an additional 6,378 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Edison International by 14.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,088,386 shares of the utilities provider’s stock valued at $112,114,000 after buying an additional 262,811 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Edison International in the 2nd quarter valued at $1,638,000. ProShare Advisors LLC boosted its holdings in shares of Edison International by 21.0% in the 2nd quarter. ProShare Advisors LLC now owns 44,248 shares of the utilities provider’s stock valued at $2,403,000 after buying an additional 7,674 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Edison International in the 2nd quarter valued at $1,352,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Shares of Edison International stock opened at $64.54 on Thursday. The company has a market cap of $24.43 billion, a P/E ratio of 65.19, a PEG ratio of 4.14 and a beta of 0.48. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.63 and a current ratio of 0.68. Edison International has a one year low of $43.63 and a one year high of $78.93. The firm has a fifty day moving average of $57.75 and a two-hundred day moving average of $55.77.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.24. Edison International had a net margin of 3.23% and a return on equity of 10.57%. During the same period in the prior year, the firm posted $1.50 earnings per share. As a group, equities analysts predict that Edison International will post 4.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Wednesday, September 30th were issued a $0.6375 dividend. The ex-dividend date was Tuesday, September 29th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 3.95%. Edison International’s dividend payout ratio is presently 54.26%.

Several brokerages have recently issued reports on EIX. Wells Fargo & Company upped their target price on shares of Edison International from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, October 28th. Morgan Stanley upped their price target on shares of Edison International from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday. Royal Bank of Canada reiterated a “buy” rating on shares of Edison International in a research report on Tuesday, August 4th. ValuEngine downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research report on Tuesday, August 4th. Finally, Barclays upped their price target on shares of Edison International from $57.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $70.27.

About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. The company generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. It supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

Further Reading: What is the Ex-Dividend Date in Investing?

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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