First Heartland Consultants Inc. Takes Position in Edison International (NYSE:EIX)

First Heartland Consultants Inc. acquired a new position in shares of Edison International (NYSE:EIX) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,429 shares of the utilities provider’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently added to or reduced their stakes in EIX. Lake Street Advisors Group LLC increased its holdings in Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after buying an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares during the last quarter. SFE Investment Counsel boosted its holdings in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares in the last quarter. Equitable Trust Co. increased its position in Edison International by 0.9% during the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares during the last quarter. Finally, TIAA Trust National Association raised its holdings in Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock worth $4,285,422 in the last quarter. 1.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EIX. Guggenheim upped their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. 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 target price for the company. Evercore ISI raised their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Argus boosted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Down 0.7 %

Shares of EIX opened at $82.18 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $84.83 and a two-hundred day moving average price of $79.48. The stock has a market cap of $31.82 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 1.98 and a beta of 0.92. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS 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 EPS. Edison International’s revenue was up 10.6% on a year-over-year basis. Equities analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is 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.