SFE Investment Counsel Grows Stake in Edison International (NYSE:EIX)

SFE Investment Counsel grew its holdings in shares of Edison International (NYSE:EIX) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,730 shares of the utilities provider’s stock after buying an additional 130 shares during the period. SFE Investment Counsel’s holdings in Edison International were worth $3,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. M&G Plc bought a new stake in shares of Edison International during the 1st quarter valued at about $85,436,000. Capital International Investors lifted its holdings in Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares during the period. Capital Research Global Investors boosted its position in Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after acquiring an additional 345,189 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Edison International by 2.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after acquiring an additional 305,459 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Edison International by 595.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after acquiring an additional 272,876 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EIX shares. Evercore ISI lifted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Morgan Stanley increased their price target on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Argus upped their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Barclays lowered their target price on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,104 shares of company stock worth $4,949,264 over the last three months. 1.20% of the stock is currently owned by company insiders.

Edison International Trading Up 0.7 %

Shares of NYSE:EIX opened at $84.48 on Tuesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a 1 year low of $62.09 and a 1 year high of $88.77. The company has a market cap of $32.62 billion, a P/E ratio of 33.93, a PEG ratio of 1.94 and a beta of 0.91. The stock’s fifty day moving average price is $85.54 and its 200-day moving average price is $78.48.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is presently 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.