Darwin Wealth Management LLC Makes New $35,000 Investment in Edison International (NYSE:EIX)

Darwin Wealth Management LLC acquired a new stake in Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 400 shares of the utilities provider’s stock, valued at approximately $35,000.

A number of other institutional investors also recently modified their holdings of EIX. Prospera Private Wealth LLC bought a new position in shares of Edison International in the third quarter valued at about $32,000. PNC Financial Services Group Inc. grew its stake in Edison International by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 53,577 shares of the utilities provider’s stock worth $4,666,000 after buying an additional 3,311 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Edison International in the 3rd quarter valued at $1,387,000. Fifth Third Wealth Advisors LLC raised its holdings in shares of Edison International by 51.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,494 shares of the utilities provider’s stock worth $653,000 after buying an additional 2,554 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Edison International by 0.3% in the third quarter. Swiss National Bank now owns 1,141,900 shares of the utilities provider’s stock worth $99,448,000 after acquiring an additional 2,900 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on EIX. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Argus lifted their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI raised their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Up 0.9 %

Shares of NYSE EIX opened at $86.87 on Friday. The business’s fifty day simple moving average is $84.61 and its 200-day simple moving average is $79.99. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The stock has a market cap of $33.63 billion, a P/E ratio of 25.48, a PEG ratio of 2.05 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during 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 business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. As a group, equities analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

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

Insider Transactions at Edison International

In other Edison International 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 transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The trade was 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 sold 49,516 shares of company stock valued at $4,169,652. Insiders own 1.03% of the company’s stock.

About Edison International

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.