Cerity Partners LLC Acquires 9,069 Shares of Edison International (NYSE:EIX)

Cerity Partners LLC lifted its holdings in Edison International (NYSE:EIX) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,275 shares of the utilities provider’s stock after purchasing an additional 9,069 shares during the quarter. Cerity Partners LLC’s holdings in Edison International were worth $13,262,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Edison International during the 3rd quarter worth about $1,387,000. Swedbank AB raised its holdings in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after acquiring an additional 193,307 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after acquiring an additional 102,000 shares in the last quarter. Cetera Investment Advisers boosted its position in Edison International by 955.8% during the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock valued at $7,413,000 after purchasing an additional 94,878 shares during the last quarter. Finally, Baker Avenue Asset Management LP bought a new position in Edison International in the third quarter valued at approximately $2,291,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of analyst reports. Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. UBS Group upped their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Barclays raised their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.03% of the stock is owned by company insiders.

Edison International Stock Performance

EIX opened at $87.60 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business has a fifty day simple moving average of $84.66 and a 200 day simple moving average of $80.26. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The company has a market capitalization of $33.91 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92.

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

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.56%. Edison International’s dividend payout ratio is presently 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.