Blueshift Asset Management LLC Buys Shares of 7,517 Edison International (NYSE:EIX)

Blueshift Asset Management LLC bought a new position in shares of Edison International (NYSE:EIX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,517 shares of the utilities provider's stock, valued at approximately $655,000.

A number of other hedge funds have also recently added to or reduced their stakes in EIX. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Edison International during the 3rd quarter worth about $1,387,000. Swedbank AB increased its position in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider's stock worth $32,073,000 after purchasing an additional 193,307 shares during the last quarter. Janus Henderson Group PLC raised its stake in Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider's stock worth $12,004,000 after purchasing an additional 102,000 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Edison International by 955.8% in the 1st quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider's stock valued at $7,413,000 after purchasing an additional 94,878 shares during the last quarter. Finally, Baker Avenue Asset Management LP purchased a new stake in shares of Edison International during the 3rd quarter valued at $2,291,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Edison International Stock Up 0.7 %

EIX stock traded up $0.62 during midday trading on Thursday, hitting $88.36. 1,589,281 shares of the company's stock were exchanged, compared to its average volume of 2,037,297. The firm has a 50 day moving average price of $84.84 and a 200-day moving average price of $80.46. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. On average, analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 dividend on an annualized basis and a yield of 3.53%. Edison International's dividend payout ratio (DPR) is 91.50%.

Analysts Set New Price Targets

Several research analysts recently weighed in on EIX shares. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They issued a "buy" rating and a $93.00 target price on the stock. Royal Bank of Canada lifted their price objective on Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. UBS Group increased their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 4th. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, August 14th. Finally, Argus boosted their price objective 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. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.75.

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.