Benjamin Edwards Inc. Invests $1.10 Million in Edison International (NYSE:EIX)

Benjamin Edwards Inc. acquired a new position in shares of Edison International (NYSE:EIX - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,626 shares of the utilities provider's stock, valued at approximately $1,100,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EIX. FMR LLC boosted its position in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the period. Clearbridge Investments LLC grew its position in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider's stock valued at $360,198,000 after acquiring an additional 24,834 shares in the last quarter. American Century Companies Inc. increased its stake in Edison International by 1.8% during the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider's stock worth $277,503,000 after purchasing an additional 67,089 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider's stock worth $203,801,000 after purchasing an additional 28,240 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Edison International by 10.1% in the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider's stock valued at $148,768,000 after purchasing an additional 190,026 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 legal filing with the Securities & Exchange Commission, which is available at this link. 1.03% of the stock is currently owned by company insiders.

Edison International Stock Performance

NYSE:EIX traded down $0.97 during trading hours on Friday, reaching $83.95. 2,041,160 shares of the company's stock were exchanged, compared to its average volume of 2,181,558. 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 firm has a market capitalization of $32.50 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 2.02 and a beta of 0.92. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The company has a 50-day moving average of $84.75 and a 200 day moving average of $80.90.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results 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 during 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%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. Research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently declared 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 3.72%. The ex-dividend date was Monday, October 7th. Edison International's dividend payout ratio is currently 91.50%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EIX shares. Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Morgan Stanley lowered their target price on Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They issued a "buy" rating and a $93.00 price target on the stock. Finally, Evercore ISI boosted their price objective on Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

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.