Hancock Whitney Corp Purchases New Shares in Edison International (NYSE:EIX)

Hancock Whitney Corp purchased a new position in shares of Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,543 shares of the utilities provider’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Clearbridge Investments LLC grew its holdings in shares of Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after acquiring an additional 24,834 shares in the last quarter. American Century Companies Inc. grew its stake in Edison International by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Edison International by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after purchasing an additional 28,240 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Edison International by 10.1% during the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after purchasing an additional 190,026 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Edison International by 15.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,635,880 shares of the utilities provider’s stock worth $117,476,000 after buying an additional 218,762 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.7 %

Shares of Edison International stock opened at $88.39 on Thursday. The company’s 50-day moving average price is $84.76 and its 200-day moving average price is $80.41. The company has a market cap of $34.22 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.09 and a beta of 0.92. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

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. 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 analyst estimates of $5.01 billion. During the same period in the previous year, the business earned $1.38 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.53%. Edison International’s payout ratio is currently 91.50%.

Insider Activity

In other 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 transaction of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EIX shares. Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Morgan Stanley lowered their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Evercore ISI increased their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.