Cerity Partners LLC Has $13.26 Million Position in Edison International (NYSE:EIX)

Cerity Partners LLC increased its position in shares of Edison International (NYSE:EIX) by 6.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 152,275 shares of the utilities provider’s stock after purchasing an additional 9,069 shares during the period. Cerity Partners LLC’s holdings in Edison International were worth $13,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International in the second quarter valued at about $27,000. Eastern Bank acquired a new stake in Edison International in the third quarter valued at about $27,000. Country Trust Bank bought a new position in Edison International in the second quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of Edison International by 53.8% in 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 last quarter. 88.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Edison International

In related news, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.03% of the company’s stock.

Edison International Price Performance

Edison International stock opened at $87.60 on Tuesday. The stock’s 50 day moving average is $84.66 and its 200 day moving average is $80.26. Edison International has a one year low of $63.15 and a one year high of $88.77. The firm has a market cap of $33.91 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.07 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.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the business earned $1.38 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Analyst Upgrades and Downgrades

EIX has been the topic of several research reports. Evercore ISI lifted 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. Morgan Stanley decreased their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday. Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. UBS Group raised their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.