Addison Advisors LLC Acquires 194 Shares of Edison International (NYSE:EIX)

Addison Advisors LLC grew its holdings in Edison International (NYSE:EIX) by 19.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,201 shares of the utilities provider’s stock after purchasing an additional 194 shares during the quarter. Addison Advisors LLC’s holdings in Edison International were worth $105,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in shares of Edison International in the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International during the second quarter valued at $27,000. Eastern Bank bought a new position in Edison International in the third quarter valued at about $27,000. Country Trust Bank acquired a new stake in Edison International in the second quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.6 %

NYSE:EIX opened at $83.58 on Tuesday. The company has a market cap of $32.36 billion, a PE ratio of 24.51, a PEG ratio of 1.93 and a beta of 0.92. The stock has a 50-day simple moving average of $84.99 and a 200 day simple moving average of $79.30. 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 has a 52-week low of $62.21 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $1.38 earnings per share. On average, sell-side analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.73%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on 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 directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. Insiders sold a total of 50,878 shares of company stock worth $4,285,422 over the last quarter. 1.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EIX shares. Royal Bank of Canada lifted their price target 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. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Guggenheim upped their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

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.