Safe Harbor Fiduciary LLC Makes New Investment in Edison International (NYSE:EIX)

Safe Harbor Fiduciary LLC acquired a new position in Edison International (NYSE:EIX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,407 shares of the utilities provider’s stock, valued at approximately $471,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International during the second quarter valued at approximately $27,000. Eastern Bank bought a new stake in shares of Edison International during the third quarter valued at approximately $27,000. Country Trust Bank bought a new stake in shares of Edison International during the second quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.5 %

Shares of EIX stock opened at $84.33 on Thursday. The stock has a market cap of $32.65 billion, a P/E ratio of 24.73, a PEG ratio of 2.03 and a beta of 0.92. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company’s fifty day simple moving average is $84.84 and its two-hundred day simple moving average is $80.78.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

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 $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.70%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated 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 can be accessed through this hyperlink. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Barclays lifted their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

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.