Northwest & Ethical Investments L.P. Sells 46,291 Shares of Edison International (NYSE:EIX)

Northwest & Ethical Investments L.P. lessened its stake in Edison International (NYSE:EIX - Free Report) by 27.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,246 shares of the utilities provider's stock after selling 46,291 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Edison International were worth $10,559,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Edison International by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 524,198 shares of the utilities provider's stock valued at $37,078,000 after acquiring an additional 3,834 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Edison International in the 1st quarter worth $270,000. Janus Henderson Group PLC lifted its holdings in shares of Edison International by 150.6% in the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider's stock valued at $12,004,000 after buying an additional 102,000 shares during the period. Swedbank AB bought a new position in Edison International during the first quarter valued at about $17,918,000. Finally, Atria Investments Inc raised its position in Edison International by 12.1% in the first quarter. Atria Investments Inc now owns 21,241 shares of the utilities provider's stock worth $1,502,000 after acquiring an additional 2,291 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business's stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EIX shares. Evercore ISI raised their price objective 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. Royal Bank of Canada upped their price target 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 reduced their price objective 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. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Finally, Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They issued a "buy" rating and a $95.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.75.

Edison International Stock Down 0.7 %

Shares of NYSE:EIX traded down $0.61 during midday trading on Friday, hitting $87.75. 1,243,722 shares of the stock were exchanged, compared to its average volume of 2,033,863. The company has a market capitalization of $33.97 billion, a PE ratio of 25.73, a P/E/G ratio of 2.11 and a beta of 0.92. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. 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 business's fifty day simple moving average is $84.89 and its two-hundred day simple moving average is $80.56.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business earned $1.38 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. Edison International's dividend payout ratio (DPR) is 91.50%.

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.