OmniStar Financial Group Inc. Takes $801,000 Position in Edison International (NYSE:EIX)

OmniStar Financial Group Inc. acquired a new position in shares of Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,169 shares of the utilities provider’s stock, valued at approximately $801,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new stake in Edison International during the 1st quarter valued at $230,000. Swedbank AB boosted its stake in shares of 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 during the period. Brookstone Capital Management grew its holdings in Edison International by 3,503.3% during the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after purchasing an additional 131,585 shares during the last quarter. Intech Investment Management LLC raised its position in Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after purchasing an additional 14,346 shares during the period. Finally, Sei Investments Co. raised its position in Edison International by 14.5% in the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock worth $22,744,000 after purchasing an additional 40,646 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Argus upped their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI upped their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley upped their price target on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Finally, 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 report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Edison International Stock Up 0.6 %

Shares of EIX traded up $0.51 during mid-day trading on Friday, hitting $85.15. The company’s stock had a trading volume of 370,486 shares, compared to its average volume of 1,989,875. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company’s 50-day moving average is $85.24 and its 200-day moving average is $77.63. Edison International has a 52-week low of $61.64 and a 52-week high of $88.77. The firm has a market capitalization of $32.88 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 1.95 and a beta of 0.91.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, equities research analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.66%. Edison International’s dividend payout ratio is presently 125.30%.

Insider Buying and Selling at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,099 shares of company stock valued at $7,223,342. 1.20% of the stock is currently owned by insiders.

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.