Quest Partners LLC Sells 24,517 Shares of Edison International (NYSE:EIX)

Quest Partners LLC trimmed its holdings in Edison International (NYSE:EIX - Free Report) by 61.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,465 shares of the utilities provider's stock after selling 24,517 shares during the quarter. Quest Partners LLC's holdings in Edison International were worth $1,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lake Street Advisors Group LLC grew its position in Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider's stock valued at $263,000 after acquiring an additional 124 shares during the period. Baker Tilly Wealth Management LLC increased its position in shares of Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider's stock worth $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel boosted its stake in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock valued at $3,721,000 after acquiring an additional 130 shares during the last quarter. Equitable Trust Co. lifted its holdings in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock worth $1,108,000 after purchasing an additional 132 shares during the period. Finally, TIAA Trust National Association increased its stake in shares of Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock valued at $483,000 after acquiring an additional 134 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EIX has been the subject of several research analyst reports. Guggenheim upped their price objective on Edison International from $80.00 to $83.00 and gave the company a "buy" rating in a report on Friday, July 26th. Barclays raised their target price on Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a "buy" rating and a $95.00 target price for the company. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They set a "buy" rating and a $93.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $88.75.

Edison International Stock Up 0.6 %

EIX stock traded up $0.48 during trading on Wednesday, reaching $86.12. 1,738,422 shares of the company traded hands, compared to its average volume of 2,029,484. The business has a 50 day simple moving average of $84.53 and a 200 day simple moving average of $79.90. 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 company has a market capitalization of $33.34 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. On average, equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Monday, October 7th. Edison International's dividend payout ratio (DPR) is 91.50%.

Insider Transactions at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 54.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on 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. Over the last ninety days, insiders have sold 50,878 shares of company stock worth $4,285,422. Insiders own 1.20% of the company's stock.

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.