Platform Technology Partners Purchases Shares of 2,432 Edison International (NYSE:EIX)

Platform Technology Partners purchased a new stake in Edison International (NYSE:EIX) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,432 shares of the utilities provider’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in shares of Edison International during the 3rd quarter worth about $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International during the second quarter worth approximately $27,000. Eastern Bank bought a new stake in shares of Edison International in the third quarter valued at approximately $27,000. Country Trust Bank acquired a new stake in shares of Edison International in the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. increased its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Down 1.0 %

Shares of NYSE EIX opened at $82.76 on Wednesday. Edison International has a 52-week low of $62.21 and a 52-week 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. The business has a fifty day moving average of $84.92 and a two-hundred day moving average of $79.39. The stock has a market cap of $32.04 billion, a PE ratio of 24.27, a PEG ratio of 2.00 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (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 the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. As a group, equities research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.77%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore ISI increased their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Barclays lifted their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. One research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the business’s 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 transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’s 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 in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Insiders have sold a total of 50,878 shares of company stock worth $4,285,422 in the last three months. Insiders own 1.20% 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.