Bank of Montreal Can Purchases 23,794 Shares of Edison International (NYSE:EIX)

Bank of Montreal Can grew its position in Edison International (NYSE:EIX) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 719,414 shares of the utilities provider’s stock after purchasing an additional 23,794 shares during the quarter. Bank of Montreal Can owned about 0.19% of Edison International worth $62,452,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EIX. Associated Banc Corp bought a new position in Edison International during the 3rd quarter worth $219,000. Hancock Whitney Corp bought a new stake in shares of Edison International in the third quarter valued at about $221,000. Loomis Sayles & Co. L P grew its stake in shares of Edison International by 4,668.5% in the third quarter. Loomis Sayles & Co. L P now owns 8,774 shares of the utilities provider’s stock valued at $764,000 after acquiring an additional 8,590 shares in the last quarter. DRW Securities LLC bought a new position in Edison International during the third quarter worth about $1,499,000. Finally, Independent Advisor Alliance raised its stake in Edison International by 7.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,985 shares of the utilities provider’s stock worth $434,000 after purchasing an additional 349 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the topic of several recent research reports. Royal Bank of Canada raised their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the 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.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Edison International Price Performance

EIX stock opened at $88.39 on Thursday. The stock has a market cap of $34.22 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 2.09 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a 50 day simple moving average of $84.76 and a 200 day simple moving average of $80.41. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company 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%. Edison International’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.38 EPS. Research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is 91.50%.

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.