Oppenheimer Asset Management Inc. Buys 407 Shares of Edison International (NYSE:EIX)

Oppenheimer Asset Management Inc. raised its stake in shares of Edison International (NYSE:EIX) by 3.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 10,892 shares of the utilities provider’s stock after purchasing an additional 407 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Edison International were worth $949,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Capital Research Global Investors grew its holdings in Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares during the period. Capital International Investors boosted its stake in shares of Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after acquiring an additional 795,950 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after acquiring an additional 24,834 shares during the period. American Century Companies Inc. boosted its stake in shares of Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after acquiring an additional 67,089 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Edison International by 10.1% in the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after acquiring an additional 190,026 shares during the period. Institutional investors own 88.95% of the company’s stock.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. Insiders have sold 50,878 shares of company stock worth $4,285,422 in the last ninety days. 1.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EIX shares. Wells Fargo & Company upped their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Finally, Morgan Stanley upped their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.75.

Edison International Trading Up 0.5 %

EIX opened at $84.08 on Tuesday. The stock has a market cap of $32.55 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 2.00 and a beta of 0.92. The stock’s 50 day moving average price is $84.51 and its 200-day moving average price is $79.80. Edison International has a one year low of $63.15 and a one year 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 released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 earnings per share. On average, equities analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.71%. Edison International’s payout ratio is currently 91.50%.

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.