Bank of Montreal Can Buys 23,794 Shares of Edison International (NYSE:EIX)

Bank of Montreal Can lifted its stake in Edison International (NYSE:EIX - Free Report) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 719,414 shares of the utilities provider's stock after purchasing an additional 23,794 shares during the quarter. Bank of Montreal Can owned about 0.19% of Edison International worth $62,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lazard Asset Management LLC increased its holdings in shares of Edison International by 7.4% during the first quarter. Lazard Asset Management LLC now owns 11,841 shares of the utilities provider's stock valued at $836,000 after acquiring an additional 819 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Edison International by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 524,198 shares of the utilities provider's stock valued at $37,078,000 after purchasing an additional 3,834 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Edison International in the first quarter worth about $270,000. Janus Henderson Group PLC raised its holdings in Edison International by 150.6% in the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider's stock worth $12,004,000 after buying an additional 102,000 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Edison International in the first quarter worth approximately $17,918,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

EIX has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Royal Bank of Canada raised their price target on shares of Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Finally, Morgan Stanley reduced their price target on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, November 22nd. 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.75.

Edison International Stock Performance

NYSE:EIX traded up $0.62 during mid-day trading on Thursday, hitting $88.36. 1,589,281 shares of the company traded hands, compared to its average volume of 2,037,297. 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 stock's fifty day moving average price is $84.76 and its 200-day moving average price is $80.41. The firm has a market cap of $34.21 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the company posted $1.38 EPS. The firm's revenue was up 10.6% on a year-over-year basis. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. 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 payout ratio is 91.50%.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

About Edison International

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.