Addison Advisors LLC Has $105,000 Stake in Edison International (NYSE:EIX)

Addison Advisors LLC grew its position in Edison International (NYSE:EIX) by 19.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,201 shares of the utilities provider’s stock after purchasing an additional 194 shares during the quarter. Addison Advisors LLC’s holdings in Edison International were worth $105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Meritage Portfolio Management acquired a new position in Edison International during the third quarter valued at approximately $239,000. Crossmark Global Holdings Inc. lifted its holdings in shares of Edison International by 3.6% in the third quarter. Crossmark Global Holdings Inc. now owns 19,229 shares of the utilities provider’s stock worth $1,675,000 after acquiring an additional 673 shares during the last quarter. Baker Avenue Asset Management LP bought a new stake in shares of Edison International during the 3rd quarter valued at approximately $2,291,000. Legacy Capital Wealth Partners LLC bought a new position in Edison International in the 3rd quarter valued at approximately $217,000. Finally, Assetmark Inc. grew its stake in shares of Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after buying an additional 157 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.6 %

Shares of NYSE:EIX opened at $83.58 on Tuesday. The business’s 50-day moving average is $84.99 and its 200-day moving average is $79.30. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77. The company has a market capitalization of $32.36 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.93 and a beta of 0.92. 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 (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for 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 company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 EPS. Equities research analysts predict that Edison International will post 4.95 earnings per share for the current 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 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 3.73%. Edison International’s dividend payout ratio is currently 91.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EIX shares. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley lifted their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Argus boosted their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Guggenheim raised their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,687,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock valued at $4,285,422 in the last three months. Corporate insiders own 1.03% of the company’s stock.

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.