Farmers & Merchants Investments Inc. Raises Stock Position in Edison International (NYSE:EIX)

Farmers & Merchants Investments Inc. lifted its stake in Edison International (NYSE:EIX) by 53.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400 shares of the utilities provider’s stock after buying an additional 140 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Edison International were worth $29,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Able Wealth Management LLC purchased a new position in shares of Edison International during the fourth quarter worth about $25,000. Global Trust Asset Management LLC acquired a new stake in shares of Edison International in the 1st quarter valued at about $28,000. Country Trust Bank purchased a new position in Edison International during the 2nd quarter worth approximately $29,000. OFI Invest Asset Management acquired a new position in Edison International during the second quarter worth approximately $32,000. Finally, LRI Investments LLC lifted its stake in Edison International by 193.7% in the second quarter. LRI Investments LLC now owns 514 shares of the utilities provider’s stock valued at $37,000 after buying an additional 339 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Down 1.1 %

NYSE:EIX opened at $86.65 on Friday. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a fifty day moving average price of $79.74 and a two-hundred day moving average price of $74.28. The stock has a market capitalization of $33.46 billion, a price-to-earnings ratio of 38.00 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the business earned $1.01 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Edison International will post 4.96 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

Insider Activity at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock valued at $7,223,342 in the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EIX shares. Argus raised their target price on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Wells Fargo & Company lifted their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Mizuho upped their target price on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Morgan Stanley raised their price target on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Finally, Barclays upped their price objective on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $82.36.

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.