Brooklyn Investment Group Makes New $62,000 Investment in Edison International (NYSE:EIX)

Brooklyn Investment Group bought a new stake in shares of Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 713 shares of the utilities provider’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. FMR LLC grew its position in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Clearbridge Investments LLC boosted its holdings in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares during the period. American Century Companies Inc. boosted its holdings in shares of Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Edison International by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after purchasing an additional 28,240 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Edison International by 10.1% during the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after purchasing an additional 190,026 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group assumed coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. UBS Group increased their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Royal Bank of Canada increased their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Morgan Stanley reduced their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Performance

EIX opened at $88.36 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $34.21 billion, a PE ratio of 25.91, a PEG ratio of 2.09 and a beta of 0.92. The firm’s 50-day moving average price is $84.84 and its 200 day moving average price is $80.46. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last released its quarterly 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 net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm earned $1.38 EPS. The business’s revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm 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 3.53%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is currently 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.