Daiwa Securities Group Inc. Boosts Stake in Edison International (NYSE:EIX)

Daiwa Securities Group Inc. grew its stake in shares of Edison International (NYSE:EIX) by 8.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,751 shares of the utilities provider’s stock after acquiring an additional 4,643 shares during the period. Daiwa Securities Group Inc.’s holdings in Edison International were worth $4,942,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in EIX. Highline Wealth Partners LLC purchased a new position in Edison International during the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter valued at approximately $27,000. Eastern Bank bought a new stake in Edison International during the 3rd quarter worth approximately $27,000. Country Trust Bank purchased a new stake in Edison International in the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EIX. Wells Fargo & Company upped their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. UBS Group lifted their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Barclays boosted their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. 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, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

Shares of NYSE EIX opened at $87.76 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The company’s 50-day moving average is $84.70 and its 200 day moving average is $80.35. The stock has a market capitalization of $33.97 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.07 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the business earned $1.38 EPS. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued 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 payout ratio is presently 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.