Hantz Financial Services Inc. Decreases Stock Position in Edison International (NYSE:EIX)

Hantz Financial Services Inc. cut its stake in Edison International (NYSE:EIX) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,482 shares of the utilities provider’s stock after selling 3,536 shares during the period. Hantz Financial Services Inc.’s holdings in Edison International were worth $5,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in Edison International in the third quarter valued at $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Edison International in the second quarter valued at $27,000. Eastern Bank purchased a new position in Edison International in the third quarter valued at $27,000. Country Trust Bank purchased a new position in Edison International in the second quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Down 0.7 %

Edison International stock opened at $87.75 on Friday. Edison International has a fifty-two week low of $63.15 and a fifty-two week 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. The company has a market capitalization of $33.97 billion, a P/E ratio of 25.73, a PEG ratio of 2.11 and a beta of 0.92. The stock has a 50-day simple moving average of $84.89 and a 200-day simple moving average of $80.56.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 EPS. Equities research analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of recent analyst reports. Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. UBS Group lifted their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.