Rockefeller Capital Management L.P. Acquires 13,236 Shares of Edison International (NYSE:EIX)

Rockefeller Capital Management L.P. lifted its holdings in Edison International (NYSE:EIX) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,630 shares of the utilities provider’s stock after purchasing an additional 13,236 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Edison International were worth $15,118,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EIX. Highline Wealth Partners LLC acquired a new position in Edison International during the third quarter worth $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International during the second quarter worth $27,000. Eastern Bank acquired a new position in Edison International during the third quarter worth $27,000. Country Trust Bank acquired a new position in Edison International during the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. increased 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 buying an additional 140 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.7 %

EIX stock opened at $87.75 on Monday. The stock has a market capitalization of $33.97 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.10 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The firm has a 50-day moving average price of $84.89 and a 200-day moving average price of $80.63.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 earnings per share. As a group, equities research analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.56%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Buying and Selling

In related news, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Bank of America began coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Argus upped their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.75.

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.