Quest Partners LLC Sells 24,517 Shares of Edison International (NYSE:EIX)

Quest Partners LLC lowered its position in shares of Edison International (NYSE:EIX) by 61.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,465 shares of the utilities provider’s stock after selling 24,517 shares during the quarter. Quest Partners LLC’s holdings in Edison International were worth $1,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Lake Street Advisors Group LLC raised its position in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC increased its stake in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel grew its holdings in Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after purchasing an additional 130 shares during the period. Equitable Trust Co. increased its stake in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares in the last quarter. Finally, TIAA Trust National Association raised its holdings in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 134 shares during the period. 88.95% of the stock is owned by institutional investors.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The trade was a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock worth $4,285,422 over the last three months. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EIX has been the topic of several recent analyst reports. UBS Group lifted their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Barclays upped their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Trading Up 1.9 %

NYSE EIX opened at $85.66 on Wednesday. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The business’s fifty day moving average is $84.53 and its 200 day moving average is $79.90. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market cap of $33.16 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

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.