Sanibel Captiva Trust Company Inc. Acquires 545 Shares of Edison International (NYSE:EIX)

Sanibel Captiva Trust Company Inc. grew its holdings in Edison International (NYSE:EIX) by 9.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,255 shares of the utilities provider’s stock after purchasing an additional 545 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Edison International were worth $499,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the 3rd quarter worth about $26,000. Groupama Asset Managment boosted its position in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the period. Eastern Bank acquired a new position in Edison International during the third quarter valued at approximately $27,000. Larson Financial Group LLC raised its position in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Edison International in the third quarter worth $32,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

EIX has been the topic of a number of research analyst reports. Royal Bank of Canada raised their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley cut their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Jefferies Financial Group began 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. Finally, Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.58.

Edison International Trading Up 2.6 %

Shares of EIX stock opened at $62.72 on Monday. The firm has a fifty day moving average of $79.50 and a 200-day moving average of $81.35. The stock has a market cap of $24.28 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.34 and a beta of 0.93. Edison International has a 52-week low of $55.27 and a 52-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.

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 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 firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the company earned $1.38 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.28%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio is 97.07%.

About Edison International

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.