Edison International (NYSE:EIX) Shares Purchased by Entropy Technologies LP

Entropy Technologies LP increased its stake in shares of Edison International (NYSE:EIX) by 403.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 37,027 shares of the utilities provider’s stock after acquiring an additional 29,674 shares during the period. Entropy Technologies LP’s holdings in Edison International were worth $3,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CreativeOne Wealth LLC acquired a new stake in shares of Edison International in the 1st quarter worth $230,000. Swedbank AB boosted its position in shares of Edison International by 76.3% during the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after purchasing an additional 193,307 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after acquiring an additional 14,346 shares during the period. Sei Investments Co. increased its stake in Edison International by 14.5% in the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock valued at $22,744,000 after purchasing an additional 40,646 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after purchasing an additional 102,000 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EIX shares. Guggenheim raised their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group assumed coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Evercore ISI boosted their target price on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Activity

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now 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 filing with the SEC, which is available through this link. In related 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 completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,687,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is currently owned by corporate insiders.

Edison International Stock Performance

Shares of EIX stock opened at $83.58 on Tuesday. The company’s fifty day moving average price is $84.99 and its two-hundred day moving average price is $79.30. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market capitalization of $32.36 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.93 and a beta of 0.92. Edison International has a 12 month low of $62.21 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. Edison International’s dividend payout ratio (DPR) is 91.50%.

About Edison International

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.