DRW Securities LLC Acquires New Position in Edison International (NYSE:EIX)

DRW Securities LLC acquired a new stake in Edison International (NYSE:EIX) in the third quarter, HoldingsChannel.com reports. The fund acquired 17,210 shares of the utilities provider’s stock, valued at approximately $1,499,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC lifted its position in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares during the period. Baker Tilly Wealth Management LLC lifted its position in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares during the period. SFE Investment Counsel lifted its position in shares of Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 130 shares during the period. Equitable Trust Co. lifted its position in shares of Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after acquiring an additional 132 shares during the period. Finally, TIAA Trust National Association lifted its position in shares of Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 134 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EIX. Bank of America started 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 for the company. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. UBS Group raised their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Evercore ISI raised their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Up 1.3 %

EIX stock opened at $87.60 on Tuesday. The stock has a market capitalization of $33.91 billion, a P/E ratio of 25.69, a PEG ratio of 2.07 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a one year low of $63.15 and a one year high of $88.77. The company has a 50 day moving average price of $84.66 and a two-hundred day moving average price of $80.26.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the previous year, the company earned $1.38 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. Edison International’s dividend payout ratio is presently 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.