OmniStar Financial Group Inc. Purchases New Shares in Edison International (NYSE:EIX)

OmniStar Financial Group Inc. purchased a new position in Edison International (NYSE:EIX - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,169 shares of the utilities provider's stock, valued at approximately $801,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in Edison International in the second quarter worth about $27,000. Global Trust Asset Management LLC purchased a new position in Edison International in the first quarter valued at approximately $28,000. Country Trust Bank purchased a new stake in Edison International in the second quarter worth $29,000. Farmers & Merchants Investments Inc. raised its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider's stock valued at $29,000 after buying an additional 140 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of Edison International during the 2nd quarter valued at $32,000. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

EIX has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Edison International from $68.00 to $72.00 and gave the stock an "underweight" rating in a report on Wednesday, September 25th. UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a research report on Wednesday, September 4th. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Guggenheim raised their price target on Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Finally, Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They set a "buy" rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.55.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO J Andrew Murphy sold 28,995 shares of the company's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 over the last 90 days. Insiders own 1.20% of the company's stock.

Edison International Price Performance

NYSE EIX traded up $0.79 during trading on Friday, reaching $85.43. The company's stock had a trading volume of 1,641,262 shares, compared to its average volume of 1,996,166. The stock has a market capitalization of $32.99 billion, a PE ratio of 34.31, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The firm has a fifty day moving average of $85.31 and a 200 day moving average of $77.73. Edison International has a one year low of $61.64 and a one year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the firm posted $1.01 earnings per share. Edison International's quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.65%. Edison International's payout ratio is 125.30%.

Edison International 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.