Nwam LLC Acquires New Shares in Edison International (NYSE:EIX)

Nwam LLC bought a new position in shares of Edison International (NYSE:EIX) during the third quarter, HoldingsChannel.com reports. The firm bought 4,611 shares of the utilities provider’s stock, valued at approximately $402,000.

Other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International in the second quarter worth $27,000. Eastern Bank bought a new position in shares of Edison International during the third quarter worth $27,000. Country Trust Bank acquired a new position in shares of Edison International in the 2nd quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EIX. Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Jefferies Financial Group started coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Wells Fargo & Company upped their price target 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. Finally, 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 report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Down 0.7 %

Edison International stock opened at $86.48 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The company has a fifty day simple moving average of $84.64 and a 200 day simple moving average of $80.17. The company has a market cap of $33.48 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the company earned $1.38 EPS. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Edison International 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.