nVerses Capital LLC Makes New Investment in Edison International (NYSE:EIX)

nVerses Capital LLC purchased a new stake in shares of Edison International (NYSE:EIX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,700 shares of the utilities provider's stock, valued at approximately $1,193,000. Edison International accounts for approximately 0.5% of nVerses Capital LLC's investment portfolio, making the stock its largest position.

Several other hedge funds have also bought and sold shares of the stock. CreativeOne Wealth LLC purchased a new position in shares of Edison International in the first quarter valued at about $230,000. Swedbank AB lifted its position in shares of Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider's stock worth $32,073,000 after buying an additional 193,307 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Edison International by 3,503.3% in the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider's stock worth $9,573,000 after buying an additional 131,585 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Edison International by 44.9% in the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider's stock worth $3,272,000 after buying an additional 14,346 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Edison International by 14.5% in the first quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider's stock worth $22,744,000 after buying an additional 40,646 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Trading Down 1.5 %

Shares of EIX traded down $1.32 during mid-day trading on Thursday, reaching $84.64. 2,270,903 shares of the company's stock traded hands, compared to its average volume of 1,823,641. The stock has a market cap of $32.69 billion, a P/E ratio of 33.99, a P/E/G ratio of 1.95 and a beta of 0.91. The stock's 50-day moving average is $85.24 and its two-hundred day moving average is $77.63. Edison International has a 12 month low of $61.64 and a 12 month high of $88.77. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.12 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Edison International's revenue was up 9.4% compared to the same quarter last year. Research analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.69%. Edison International's dividend payout ratio (DPR) is currently 125.30%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EIX. UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 4th. Guggenheim boosted their target price on Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They issued a "buy" rating and a $95.00 target price on the stock. Finally, Royal Bank of Canada upped their price objective on Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Edison International currently has an average rating of "Hold" and a consensus target price of $86.50.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares of the company's stock, valued at $1,541,933.80. This 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 the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at $507,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the company's stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now owns 19,660 shares of the company's stock, valued at approximately $1,541,933.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 over the last quarter. 1.20% of the stock is owned by corporate insiders.

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.