Edison International $EIX Shares Purchased by Carson Advisory Inc.

Carson Advisory Inc. raised its holdings in Edison International (NYSE:EIX) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,324 shares of the utilities provider’s stock after buying an additional 10,497 shares during the quarter. Edison International makes up approximately 2.0% of Carson Advisory Inc.’s holdings, making the stock its 12th largest holding. Carson Advisory Inc.’s holdings in Edison International were worth $4,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Edison International during the 2nd quarter worth about $3,340,412,000. Legal & General Group Plc acquired a new stake in shares of Edison International in the second quarter worth approximately $329,766,000. Bank of New York Mellon Corp acquired a new stake in shares of Edison International in the second quarter worth approximately $309,361,000. Amundi grew its holdings in Edison International by 27.0% in the second quarter. Amundi now owns 3,570,726 shares of the utilities provider’s stock valued at $265,843,000 after purchasing an additional 759,236 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Edison International in the second quarter valued at approximately $261,275,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.4%

NYSE EIX opened at $60.23 on Friday. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 2.54 and a beta of 0.56. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.71 and a current ratio of 0.77. Edison International has a one year low of $51.10 and a one year high of $81.62. The company’s 50 day moving average price is $56.53 and its 200 day moving average price is $67.67.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.11. Edison International had a net margin of 20.50% and a return on equity of 14.17%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the firm earned $2.34 earnings per share. Edison International’s revenue for the quarter was down 15.0% on a year-over-year basis. On average, sell-side analysts predict that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Wednesday, October 7th were issued a dividend of $0.8775 per share. The ex-dividend date was Wednesday, October 7th. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. Edison International’s payout ratio is presently 37.30%.

Insiders Place Their Bets

In related news, Director Peter Taylor sold 500 shares of the company’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $55.56, for a total transaction of $27,780.00. Following the completion of the sale, the director directly owned 33,212 shares of the company’s stock, valued at approximately $1,845,258.72. This represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

EIX has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Edison International from $61.00 to $59.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. HSBC started coverage on shares of Edison International in a report on Thursday, October 22nd. They issued a “hold” rating and a $56.50 price target on the stock. Morgan Stanley boosted their price objective on shares of Edison International from $60.00 to $62.00 and gave the company an “underweight” rating in a research note on Wednesday, October 21st. Argus downgraded Edison International from a “buy” rating to a “hold” rating in a report on Wednesday, August 26th. Finally, UBS Group increased their target price on Edison International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $60.58.

Edison International Company Profile

Edison International is a holding company focused on electric power generation and delivery. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that serves homes and businesses across much of central and Southern California. SCE operates and maintains the electric grid, including transmission and distribution infrastructure, and works to support the region’s shift to cleaner energy. Edison International also provides energy advisory and management services through its Edison Energy business.