Sanibel Captiva Trust Company Inc. Has $497,000 Position in Edison International (NYSE:EIX)

Sanibel Captiva Trust Company Inc. raised its position in Edison International (NYSE:EIX) by 28.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,710 shares of the utilities provider’s stock after acquiring an additional 1,269 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Edison International were worth $497,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EIX. Wedmont Private Capital acquired a new stake in shares of Edison International during the 3rd quarter worth about $203,000. Marcum Wealth LLC lifted its stake in shares of Edison International by 4.3% during the 3rd quarter. Marcum Wealth LLC now owns 7,101 shares of the utilities provider’s stock worth $618,000 after buying an additional 294 shares during the last quarter. CWM LLC lifted its stake in shares of Edison International by 5.4% during the 3rd quarter. CWM LLC now owns 12,313 shares of the utilities provider’s stock worth $1,072,000 after buying an additional 626 shares during the last quarter. Sage Capital Advisors llc bought a new position in Edison International during the third quarter worth about $239,000. Finally, Atomi Financial Group Inc. increased its position in Edison International by 6.7% during the third quarter. Atomi Financial Group Inc. now owns 4,360 shares of the utilities provider’s stock worth $380,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent research reports. Barclays raised their price target on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Guggenheim raised their price target on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. UBS Group raised their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley raised their target price on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $86.67.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred 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 sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 in the last ninety days. Company insiders own 1.03% of the company’s stock.

Edison International Trading Up 0.7 %

Shares of Edison International stock opened at $83.61 on Friday. The firm has a market capitalization of $32.17 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The firm’s 50 day moving average is $84.91 and its 200 day moving average is $77.10. Edison International has a 1 year low of $61.64 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate 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 company earned $1.01 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 annualized dividend and a yield of 3.73%. Edison International’s dividend payout ratio is presently 136.84%.

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.