CSat Investment Advisory L.P. Buys 2,692 Shares of Edison International (NYSE:EIX)

CSat Investment Advisory L.P. lifted its stake in Edison International (NYSE:EIX) by 78.9% during the second quarter, HoldingsChannel reports. The firm owned 6,106 shares of the utilities provider’s stock after purchasing an additional 2,692 shares during the period. CSat Investment Advisory L.P.’s holdings in Edison International were worth $411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Coastal Investment Advisors Inc. purchased a new stake in Edison International in the second quarter worth about $32,000. Trust Co. of Vermont lifted its stake in Edison International by 101.2% in the second quarter. Trust Co. of Vermont now owns 497 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 250 shares during the period. Sandy Spring Bank lifted its stake in Edison International by 220.9% in the second quarter. Sandy Spring Bank now owns 552 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 380 shares during the period. Bremer Bank National Association purchased a new stake in Edison International in the first quarter worth about $39,000. Finally, FinTrust Capital Advisors LLC lifted its stake in Edison International by 189.2% in the second quarter. FinTrust Capital Advisors LLC now owns 645 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 422 shares during the period. Hedge funds and other institutional investors own 77.85% of the company’s stock.

A number of research firms recently weighed in on EIX. Morgan Stanley upped their price objective on shares of Edison International from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Mizuho upped their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. TheStreet raised shares of Edison International from a “c+” rating to a “b-” rating in a research note on Friday, July 26th. SunTrust Banks upped their price objective on shares of Edison International from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, UBS Group upped their price objective on shares of Edison International from $77.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Edison International has a consensus rating of “Hold” and an average price target of $73.45.

Shares of NYSE:EIX traded up $0.11 during midday trading on Friday, reaching $72.74. 3,346,892 shares of the company’s stock were exchanged, compared to its average volume of 1,820,583. The firm’s 50 day simple moving average is $72.64 and its two-hundred day simple moving average is $66.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.69 and a quick ratio of 0.64. The stock has a market cap of $25.70 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 2.96 and a beta of 0.11. Edison International has a fifty-two week low of $45.50 and a fifty-two week high of $75.39.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.43. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $3.15 billion. Edison International had a positive return on equity of 12.15% and a negative net margin of 1.21%. During the same period in the previous year, the company posted $0.85 EPS. Equities research analysts predict that Edison International will post 4.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.613 per share. This is a boost from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, September 27th. This represents a $2.45 annualized dividend and a yield of 3.37%. Edison International’s payout ratio is presently 59.04%.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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