Adam S. Umanoff Sells 25,619 Shares of Edison International (NYSE:EIX) Stock

Edison International (NYSE:EIX) VP Adam S. Umanoff sold 25,619 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Edison International Stock Performance

NYSE EIX traded down $0.13 during trading on Monday, hitting $81.00. The company’s stock had a trading volume of 2,914,543 shares, compared to its average volume of 2,004,074. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average price of $85.39 and a 200 day moving average price of $78.89. The firm has a market cap of $31.36 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92. Edison International has a 52 week low of $62.21 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last issued its 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. The firm had revenue of $5.20 billion during 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%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $1.38 earnings per share. Equities research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.85%. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Highline Wealth Partners LLC acquired a new position in Edison International during the third quarter worth $26,000. Eastern Bank acquired a new stake in shares of Edison International in the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International in the second quarter valued at $27,000. Concord Wealth Partners increased its stake in shares of Edison International by 277.0% in the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock valued at $33,000 after buying an additional 277 shares in the last quarter. Finally, Country Trust Bank acquired a new stake in shares of Edison International in the second quarter valued at $29,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EIX has been the topic of a number of research analyst reports. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company increased their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Finally, Barclays increased their price target on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.36.

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.