Darwin Wealth Management LLC Buys New Position in Edison International (NYSE:EIX)

Darwin Wealth Management LLC acquired a new position in Edison International (NYSE:EIX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 400 shares of the utilities provider’s stock, valued at approximately $35,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in Edison International during the 3rd quarter worth approximately $32,000. PNC Financial Services Group Inc. raised its stake in shares of Edison International by 6.6% in the third quarter. PNC Financial Services Group Inc. now owns 53,577 shares of the utilities provider’s stock valued at $4,666,000 after buying an additional 3,311 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Edison International during the third quarter valued at about $1,387,000. Fifth Third Wealth Advisors LLC grew its stake in Edison International by 51.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,494 shares of the utilities provider’s stock valued at $653,000 after buying an additional 2,554 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Edison International by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,141,900 shares of the utilities provider’s stock valued at $99,448,000 after purchasing an additional 2,900 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on EIX shares. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Morgan Stanley boosted their price target on shares of 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 objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Barclays lifted their target price on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This trade represents a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,516 shares of company stock valued at $4,169,652. 1.03% of the stock is currently owned by corporate insiders.

Edison International Price Performance

Shares of EIX stock opened at $86.87 on Friday. The stock has a 50 day moving average price of $84.61 and a 200 day moving average price of $79.99. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $33.63 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.05 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its quarterly 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. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 EPS. As a group, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is 91.50%.

Edison International 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.