Huntington National Bank Purchases 1,179 Shares of Edison International (NYSE:EIX)

Huntington National Bank increased its position in shares of Edison International (NYSE:EIX) by 30.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,013 shares of the utilities provider’s stock after buying an additional 1,179 shares during the period. Huntington National Bank’s holdings in Edison International were worth $437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC lifted its stake in shares of Edison International by 29.8% in the 1st quarter. Empowered Funds LLC now owns 5,158 shares of the utilities provider’s stock valued at $365,000 after purchasing an additional 1,185 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Edison International by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 14,743 shares of the utilities provider’s stock valued at $1,043,000 after buying an additional 161 shares during the period. Intech Investment Management LLC lifted its stake in Edison International by 44.9% in the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock valued at $3,272,000 after buying an additional 14,346 shares during the period. Covestor Ltd boosted its holdings in shares of Edison International by 67.8% during the 1st quarter. Covestor Ltd now owns 1,651 shares of the utilities provider’s stock worth $117,000 after buying an additional 667 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Edison International by 165.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,309 shares of the utilities provider’s stock worth $800,000 after buying an additional 7,050 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 filing with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 54.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,878 shares of company stock valued at $4,285,422 over the last 90 days. 1.03% of the stock is owned by insiders.

Edison International Price Performance

Edison International stock opened at $83.68 on Friday. 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 firm has a market capitalization of $32.40 billion, a P/E ratio of 24.54, a PEG ratio of 1.96 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year high of $88.77. The business has a fifty day moving average price of $84.55 and a 200-day moving average price of $79.60.

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

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. Edison International’s dividend payout ratio is presently 91.50%.

Analyst Ratings Changes

EIX has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Argus raised their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.