Oppenheimer Asset Management Inc. Has $949,000 Stake in Edison International (NYSE:EIX)

Oppenheimer Asset Management Inc. increased its stake in shares of Edison International (NYSE:EIX) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,892 shares of the utilities provider’s stock after buying an additional 407 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Edison International were worth $949,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. CreativeOne Wealth LLC bought a new position in Edison International in the 1st quarter valued at $230,000. Swedbank AB lifted its holdings in Edison International by 76.3% during the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after purchasing an additional 193,307 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Edison International by 150.6% during the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after purchasing an additional 102,000 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Edison International by 165.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,309 shares of the utilities provider’s stock worth $800,000 after purchasing an additional 7,050 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Edison International by 88.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 19,265 shares of the utilities provider’s stock valued at $1,363,000 after acquiring an additional 9,044 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.5 %

EIX opened at $84.08 on Tuesday. The business has a 50 day moving average of $84.51 and a 200-day moving average of $79.80. The stock has a market cap of $32.55 billion, a PE ratio of 24.66, a PEG ratio of 2.00 and a beta of 0.92. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data 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. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 earnings per share. Equities research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is 91.50%.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was 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 directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 54.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EIX shares. Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Morgan Stanley raised their price target on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Evercore ISI raised their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Argus raised their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.