Huntington National Bank Raises Stock Position in Edison International (NYSE:EIX)

Huntington National Bank lifted its position in Edison International (NYSE:EIX) by 30.8% in the 3rd quarter, Holdings Channel reports. The fund owned 5,013 shares of the utilities provider’s stock after acquiring an additional 1,179 shares during the quarter. Huntington National Bank’s holdings in Edison International were worth $437,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in Edison International during the 3rd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the 2nd quarter worth $27,000. Eastern Bank bought a new position in shares of Edison International in the third quarter worth about $27,000. Country Trust Bank bought a new stake in Edison International during the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EIX shares. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Evercore ISI lifted their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley upped their price target 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. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada lifted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.75.

Insiders Place Their Bets

In related news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 54.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 50,878 shares of company stock valued at $4,285,422. Insiders own 1.03% of the company’s stock.

Edison International Stock Up 1.9 %

Edison International stock opened at $83.68 on Friday. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The business has a fifty day moving average price of $84.55 and a 200-day moving average price of $79.60. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market capitalization of $32.40 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. Edison International’s dividend payout ratio is currently 91.50%.

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.