Cerity Partners LLC Has $13.26 Million Stock Position in Edison International (NYSE:EIX)

Cerity Partners LLC grew its position in shares of Edison International (NYSE:EIX - Free Report) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,275 shares of the utilities provider's stock after purchasing an additional 9,069 shares during the period. Cerity Partners LLC's holdings in Edison International were worth $13,262,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Lake Street Advisors Group LLC boosted 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 last quarter. Baker Tilly Wealth Management LLC boosted its position in shares of Edison International by 2.8% in the third 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 position in Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock valued at $3,721,000 after buying an additional 130 shares in the last quarter. Equitable Trust Co. lifted its position in Edison International by 0.9% during the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock valued at $1,108,000 after buying an additional 132 shares in the last quarter. Finally, TIAA Trust National Association lifted its position in Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock valued at $483,000 after buying an additional 134 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EIX. Barclays lifted their price target on shares of Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a "buy" rating and a $93.00 price objective on the stock. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. UBS Group lifted their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a research note on Wednesday, September 4th. Finally, Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.75.

Edison International Trading Up 0.1 %

NYSE EIX traded up $0.11 on Tuesday, hitting $87.72. 778,352 shares of the company were exchanged, compared to its average volume of 2,033,421. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market capitalization of $33.96 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92. The company's 50 day moving average price is $84.66 and its 200-day moving average price is $80.26.

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 analysts' expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 EPS. Analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

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

Insider Transactions at Edison International

In related 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.03% of the stock is currently owned by corporate insiders.

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.