Bank of Montreal Can Has $62.45 Million Stock Position in Edison International (NYSE:EIX)

Bank of Montreal Can boosted its stake in Edison International (NYSE:EIX) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 719,414 shares of the utilities provider’s stock after acquiring an additional 23,794 shares during the period. Bank of Montreal Can’s holdings in Edison International were worth $62,452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International in the second quarter valued at $27,000. Eastern Bank bought a new stake in Edison International during the third quarter valued at $27,000. Country Trust Bank acquired a new stake in Edison International during the 2nd quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the topic of several research analyst reports. Barclays upped their target price on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price objective 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. 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. Morgan Stanley reduced their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Trading Up 0.7 %

Shares of Edison International stock opened at $88.39 on Thursday. 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 stock has a fifty day simple moving average of $84.76 and a 200 day simple moving average of $80.41. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a market capitalization of $34.22 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92.

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. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share 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 given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.53%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is 91.50%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

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.