Consolidated Planning Corp Purchases 1,744 Shares of Edison International (NYSE:EIX)

Consolidated Planning Corp grew its position in shares of Edison International (NYSE:EIX) by 48.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,358 shares of the utilities provider’s stock after purchasing an additional 1,744 shares during the period. Consolidated Planning Corp’s holdings in Edison International were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in Edison International during the third quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International during the second quarter worth about $27,000. Eastern Bank bought a new position in shares of Edison International in the third quarter worth approximately $27,000. Country Trust Bank purchased a new position in Edison International in the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. increased its holdings in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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. In related news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold 50,878 shares of company stock valued at $4,285,422 over the last ninety days. 1.03% of the stock is owned by insiders.

Edison International Stock Performance

Shares of EIX stock opened at $83.13 on Friday. The company has a market capitalization of $32.18 billion, a P/E ratio of 24.38, a PEG ratio of 1.88 and a beta of 0.92. Edison International has a fifty-two week low of $62.21 and a fifty-two 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. The stock has a 50 day moving average price of $84.99 and a two-hundred day moving average price of $79.18.

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 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 for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 earnings per share. Analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.75%. Edison International’s dividend payout ratio is currently 91.50%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EIX. UBS Group lifted their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company upped their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley upped their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Finally, Guggenheim increased their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.75.

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.