Harvest Portfolios Group Inc. Sells 1,908 Shares of Edison International (NYSE:EIX)

Harvest Portfolios Group Inc. lessened its holdings in shares of Edison International (NYSE:EIX) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,838 shares of the utilities provider’s stock after selling 1,908 shares during the period. Harvest Portfolios Group Inc.’s holdings in Edison International were worth $5,821,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Insiders sold 50,877 shares of company stock valued at $4,285,341 over the last quarter. Insiders own 1.20% of the company’s stock.

Edison International Stock Performance

NYSE EIX opened at $82.00 on Wednesday. The company has a market capitalization of $31.75 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.88 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $62.21 and a twelve month high of $88.77. The stock has a fifty day simple moving average of $85.25 and a 200 day simple moving average of $79.06.

Edison International (NYSE:EIX) last issued its quarterly earnings data 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 company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $1.38 earnings per share. Sell-side analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Wall Street Analyst Weigh In

Several analysts have issued reports on EIX shares. Guggenheim lifted their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note 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. Morgan Stanley raised 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. UBS Group increased their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Argus boosted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.36.

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.