Procyon Advisors LLC grew its position in Edison International (NYSE:EIX – Free Report) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,222 shares of the utilities provider’s stock after purchasing an additional 618 shares during the period. Procyon Advisors LLC’s holdings in Edison International were worth $1,848,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International during the second quarter worth about $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International during the first quarter worth about $28,000. Country Trust Bank acquired a new stake in Edison International during the second quarter worth about $29,000. Farmers & Merchants Investments Inc. grew its holdings in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Edison International during the second quarter worth about $32,000. 88.95% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 over the last quarter. 1.03% of the stock is owned by insiders.
Edison International Price Performance
Edison International (NYSE:EIX – Get Free Report) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. Equities research analysts expect that Edison International will post 4.97 EPS for the current fiscal year.
Edison International Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.69%. Edison International’s dividend payout ratio (DPR) is 125.30%.
Analyst Upgrades and Downgrades
EIX has been the topic of a number of recent analyst reports. Barclays increased their price target on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Royal Bank of Canada raised their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Argus raised their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company raised their target price on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.67.
View Our Latest Research Report on EIX
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.
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