Entropy Technologies LP Buys 29,674 Shares of Edison International (NYSE:EIX)

Entropy Technologies LP boosted its position in shares of Edison International (NYSE:EIX - Free Report) by 403.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,027 shares of the utilities provider's stock after buying an additional 29,674 shares during the period. Entropy Technologies LP's holdings in Edison International were worth $3,225,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EIX. Apollon Wealth Management LLC acquired a new stake in shares of Edison International during the 3rd quarter worth approximately $259,000. Versor Investments LP boosted its position in Edison International by 34.6% during the 3rd quarter. Versor Investments LP now owns 14,400 shares of the utilities provider's stock worth $1,254,000 after buying an additional 3,700 shares during the period. Addison Advisors LLC grew its holdings in Edison International by 19.3% during the 3rd quarter. Addison Advisors LLC now owns 1,201 shares of the utilities provider's stock worth $105,000 after acquiring an additional 194 shares during the last quarter. Meritage Portfolio Management bought a new position in shares of Edison International during the third quarter valued at $239,000. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Edison International by 3.6% during the third quarter. Crossmark Global Holdings Inc. now owns 19,229 shares of the utilities provider's stock worth $1,675,000 after purchasing an additional 673 shares during the period. 88.95% of the stock is owned by institutional investors.

Edison International Stock Down 1.0 %

EIX stock traded down $0.82 during trading on Tuesday, reaching $82.76. The stock had a trading volume of 1,969,921 shares, compared to its average volume of 2,014,408. 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 company has a market capitalization of $32.04 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.93 and a beta of 0.92. Edison International has a one year low of $62.21 and a one year high of $88.77. The company's 50 day moving average is $84.92 and its two-hundred day moving average is $79.39.

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 analysts' consensus estimates 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 the consensus estimate of $5.01 billion. During the same period in the previous year, the firm earned $1.38 EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast 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. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.77%. Edison International's payout ratio is 91.50%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO J Andrew Murphy sold 1,362 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,878 shares of company stock valued at $4,285,422. 1.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EIX has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They issued a "buy" rating and a $95.00 price target for the company. Barclays upped their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a "buy" rating and a $93.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Edison International currently has a consensus rating of "Moderate Buy" and a consensus 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.