Martingale Asset Management L P Takes Position in Edison International (NYSE:EIX)

Martingale Asset Management L P bought a new position in shares of Edison International (NYSE:EIX - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 103,516 shares of the utilities provider's stock, valued at approximately $9,015,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in shares of Edison International during the third quarter worth $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the 2nd quarter valued at about $27,000. Eastern Bank acquired a new stake in shares of Edison International in the third quarter valued at about $27,000. Country Trust Bank acquired a new stake in shares of Edison International in the second quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Edison International by 53.8% during 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 institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, August 14th. Barclays upped their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 4th. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. 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 price target for the company. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

Edison International Stock Down 0.7 %

Edison International stock traded down $0.61 during midday trading on Friday, reaching $87.75. The stock had a trading volume of 1,243,975 shares, compared to its average volume of 2,033,863. The company has a fifty day moving average price of $84.89 and a two-hundred day moving average price of $80.56. 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. The company has a market capitalization of $33.97 billion, a P/E ratio of 25.73, a PEG ratio of 2.11 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.56%. Edison International's payout ratio is 91.50%.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.03% of the company's stock.

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.