Edison International (NYSE:EIX) Shares Sold by Centennial Bank AR

Centennial Bank AR cut its holdings in shares of Edison International (NYSE:EIX) by 3.1% during the third quarter, Holdings Channel.com reports. The fund owned 11,000 shares of the utilities provider’s stock after selling 356 shares during the period. Centennial Bank AR’s holdings in Edison International were worth $958,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of EIX. Highline Wealth Partners LLC purchased a new stake in Edison International during the 3rd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International during the second quarter worth approximately $27,000. Eastern Bank acquired a new position in Edison International in the 3rd quarter valued at $27,000. Country Trust Bank purchased a new position in Edison International in the 2nd quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. boosted its stake in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of recent research reports. UBS Group increased their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Morgan Stanley upped their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Argus increased their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.36.

Insider Activity at Edison International

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 transaction of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is currently owned by company insiders.

Edison International Price Performance

Shares of EIX opened at $81.13 on Monday. The firm has a 50-day simple moving average of $85.39 and a two-hundred day simple moving average of $78.89. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.96. Edison International has a 1-year low of $62.21 and a 1-year high of $88.77. The stock has a market cap of $31.41 billion, a PE ratio of 23.79, a P/E/G ratio of 1.92 and a beta of 0.92.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.85%. The ex-dividend date 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.