Blueshift Asset Management LLC Takes Position in Edison International (NYSE:EIX)

Blueshift Asset Management LLC purchased a new position in Edison International (NYSE:EIX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,517 shares of the utilities provider’s stock, valued at approximately $655,000.

A number of other large investors also recently bought and sold shares of EIX. Highline Wealth Partners LLC bought a new position in shares of Edison International during the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in Edison International during the 2nd quarter valued at approximately $27,000. Eastern Bank purchased a new position in Edison International during the third quarter valued at $27,000. Country Trust Bank bought a new stake in Edison International in the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. 88.95% of the stock is 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 business’s stock in a transaction dated 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 available at this link. 1.20% of the stock is owned by insiders.

Edison International Stock Up 0.7 %

EIX stock opened at $88.39 on Thursday. The company has a market cap of $34.22 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 2.09 and a beta of 0.92. 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 business’s 50-day moving average is $84.76 and its two-hundred day moving average is $80.41. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77.

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

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.53%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays lifted their price target 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. Argus upped their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. UBS Group upped their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI boosted 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.