DRW Securities LLC Makes New $1.50 Million Investment in Edison International (NYSE:EIX)

DRW Securities LLC purchased a new position in Edison International (NYSE:EIX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,210 shares of the utilities provider’s stock, valued at approximately $1,499,000.

Other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Edison International in the third quarter worth $1,387,000. Swedbank AB grew its stake in shares of Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after acquiring an additional 193,307 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Edison International by 150.6% in the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after acquiring an additional 102,000 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Edison International by 955.8% in the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock worth $7,413,000 after acquiring an additional 94,878 shares in the last quarter. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Edison International during the third quarter worth $2,291,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $87.60 on Tuesday. The stock’s 50-day moving average is $84.66 and its two-hundred day moving average is $80.26. The firm has a market cap of $33.91 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.07 and a beta of 0.92. Edison International has a 1 year low of $63.15 and a 1 year 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.

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, topping 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 for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the company posted $1.38 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Wall Street Analysts Forecast Growth

EIX has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday. Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Barclays increased their target price 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, Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.75.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

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.