Lake Street Advisors Group LLC Buys 124 Shares of Edison International (NYSE:EIX)

Lake Street Advisors Group LLC raised its position in shares of Edison International (NYSE:EIX) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,015 shares of the utilities provider’s stock after acquiring an additional 124 shares during the period. Lake Street Advisors Group LLC’s holdings in Edison International were worth $263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ballentine Partners LLC bought a new stake in shares of Edison International during the third quarter valued at approximately $201,000. Spirit of America Management Corp NY boosted its holdings in shares of Edison International by 15.5% during the 3rd quarter. Spirit of America Management Corp NY now owns 9,700 shares of the utilities provider’s stock valued at $845,000 after buying an additional 1,300 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of Edison International in the 3rd quarter worth about $279,000. IFM Investors Pty Ltd increased its stake in shares of Edison International by 13.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 153,256 shares of the utilities provider’s stock worth $13,347,000 after acquiring an additional 18,035 shares in the last quarter. Finally, Jackson Wealth Management LLC lifted its position in Edison International by 98.3% during the 3rd quarter. Jackson Wealth Management LLC now owns 21,548 shares of the utilities provider’s stock valued at $1,877,000 after acquiring an additional 10,681 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EIX shares. Guggenheim raised their target price on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays lowered their price objective on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Finally, UBS Group raised their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.55.

Edison International Price Performance

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

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. On average, equities analysts anticipate that Edison International will post 4.97 EPS for the current year.

Edison International Announces Dividend

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

Insider Activity at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction 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 transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,575,159.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $507,040. The trade was 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 sold 60,104 shares of company stock worth $4,949,264. 1.03% of the stock is owned by company insiders.

About Edison International

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.