DRW Securities LLC Takes $1.50 Million Position in Edison International (NYSE:EIX)

DRW Securities LLC bought a new position in shares of Edison International (NYSE:EIX - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,210 shares of the utilities provider's stock, valued at approximately $1,499,000.

A number of other hedge funds also recently added to or reduced their stakes in EIX. Clearbridge Investments LLC increased its stake in shares of Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider's stock worth $360,198,000 after buying an additional 24,834 shares during the period. American Century Companies Inc. increased its position in shares of Edison International by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider's stock valued at $277,503,000 after purchasing an additional 67,089 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Edison International by 1.2% during the 3rd 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 during the last quarter. Hsbc Holdings PLC lifted its position in shares of Edison International by 10.1% during the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider's stock worth $148,768,000 after purchasing an additional 190,026 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Edison International by 15.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,635,880 shares of the utilities provider's stock worth $117,476,000 after purchasing an additional 218,762 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of NYSE EIX traded up $0.14 during midday trading on Tuesday, reaching $87.76. 2,052,203 shares of the company were exchanged, compared to its average volume of 2,039,253. The stock has a market cap of $33.97 billion, a P/E ratio of 25.73, a PEG ratio of 2.07 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. The stock has a fifty day simple moving average of $84.70 and a 200 day simple moving average of $80.35. 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 announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.01 billion. During the same period in the previous year, the company posted $1.38 EPS. Edison International's revenue was up 10.6% compared to the same quarter last year. On average, research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. Evercore ISI lifted their price target on Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, August 14th. Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a "buy" rating and a $95.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday. Finally, Jefferies Financial Group assumed coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a "buy" rating and a $93.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is 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.