10,497 Edison International $EIX Shares Bought by Carson Advisory Inc.

Carson Advisory Inc. grew its position in shares of Edison International (NYSE:EIX) by 14.6% during the third quarter, HoldingsChannel reports. The firm owned 82,324 shares of the utilities provider’s stock after buying an additional 10,497 shares during the period. Edison International accounts for approximately 2.0% of Carson Advisory Inc.’s holdings, making the stock its 12th largest holding. Carson Advisory Inc.’s holdings in Edison International were worth $4,423,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EIX. Edmond DE Rothschild Holding S.A. purchased a new stake in Edison International during the 2nd quarter worth $26,000. Groupe la Francaise acquired a new stake in shares of Edison International during the first quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Edison International during the second quarter worth about $30,000. Bell Investment Advisors Inc purchased a new stake in shares of Edison International during the second quarter worth about $31,000. Finally, Provenance Wealth Advisors LLC purchased a new stake in shares of Edison International during the third quarter worth about $27,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of EIX stock opened at $60.23 on Friday. The firm has a market cap of $23.17 billion, a P/E ratio of 8.89, a P/E/G ratio of 2.54 and a beta of 0.56. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.77 and a quick ratio of 0.71. Edison International has a 1-year low of $51.10 and a 1-year high of $81.62. The firm has a fifty day moving average of $56.53 and a two-hundred day moving average of $67.67.

Edison International (NYSE:EIX) last released its earnings results on Thursday, October 29th. The utilities provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.11. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.34 billion. Edison International had a net margin of 20.50% and a return on equity of 14.17%. The company’s revenue was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.34 EPS. As a group, research analysts anticipate that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Wednesday, October 7th were paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Wednesday, October 7th. Edison International’s dividend payout ratio (DPR) is 37.30%.

Insider Buying and Selling

In related news, Director Peter Taylor sold 500 shares of the business’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $55.56, for a total value of $27,780.00. Following the completion of the sale, the director directly owned 33,212 shares of the company’s stock, valued at $1,845,258.72. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Argus cut Edison International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 26th. Barclays raised their price objective on Edison International from $53.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, October 30th. The Goldman Sachs Group set a $67.00 price objective on Edison International in a report on Thursday, October 15th. Morgan Stanley upped their target price on Edison International from $60.00 to $62.00 and gave the company an “underweight” rating in a research report on Wednesday, October 21st. Finally, Jefferies Financial Group cut Edison International from a “hold” rating to an “underperform” rating and reduced their target price for the company from $53.00 to $42.00 in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $60.58.

Edison International Company Profile

Edison International is a holding company focused on electric power generation and delivery. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that serves homes and businesses across much of central and Southern California. SCE operates and maintains the electric grid, including transmission and distribution infrastructure, and works to support the region’s shift to cleaner energy. Edison International also provides energy advisory and management services through its Edison Energy business.