Barclays PLC Increases Position in Edison International (NYSE:EIX)

Barclays PLC boosted its stake in Edison International (NYSE:EIX - Free Report) by 16.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 918,489 shares of the utilities provider's stock after buying an additional 132,749 shares during the quarter. Barclays PLC owned approximately 0.24% of Edison International worth $79,991,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Lake Street Advisors Group LLC raised its stake 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 worth $263,000 after purchasing an additional 124 shares during the period. Baker Tilly Wealth Management LLC lifted its holdings in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider's stock worth $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel lifted its stake in Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock worth $3,721,000 after purchasing an additional 130 shares during the last quarter. Equitable Trust Co. lifted its position in Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock worth $1,108,000 after buying an additional 132 shares during the last quarter. Finally, TIAA Trust National Association boosted its stake in shares of Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock valued at $483,000 after purchasing an additional 134 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a research note on Wednesday, September 4th. Morgan Stanley cut their price objective on Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Barclays increased their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They set a "buy" rating and a $93.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of "Moderate Buy" and an average target price of $88.75.

Edison International Stock Performance

Shares of NYSE EIX traded up $0.04 during midday trading on Thursday, hitting $81.62. 1,430,027 shares of the company's stock traded hands, compared to its average volume of 2,033,000. 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 market capitalization of $31.60 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. The firm has a fifty day moving average of $84.46 and a 200 day moving average of $81.06. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating 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 return on equity of 13.17% and a net margin of 8.52%. Edison International's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. On average, analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 4.06%. This is a boost from Edison International's previous quarterly dividend of $0.78. Edison International's dividend payout ratio (DPR) is currently 91.50%.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the business's stock in a transaction dated Thursday, October 31st. The shares were 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 SEC, which is available through the SEC website. Insiders own 1.03% of the company's stock.

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.