3,824 Shares in Edison International (NYSE:EIX) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new stake in Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,824 shares of the utilities provider’s stock, valued at approximately $333,000.

Several other hedge funds have also recently added to or reduced their stakes in EIX. FMR LLC increased its stake in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares during the period. American Century Companies Inc. increased its stake in Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Edison International by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after purchasing an additional 28,240 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Edison International by 10.1% during the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after purchasing an additional 190,026 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 2.2 %

Shares of EIX stock opened at $85.78 on Tuesday. The firm’s fifty day moving average price is $84.88 and its two-hundred day moving average price is $80.70. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The firm has a market capitalization of $33.21 billion, a P/E ratio of 25.16, a PEG ratio of 2.10 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the company earned $1.38 EPS. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is presently 91.50%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Barclays raised their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. 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 price objective for the company. Evercore ISI raised their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Edison International Company 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.