First Commonwealth Financial Corp PA Buys 605 Shares of Edison International (NYSE:EIX)

First Commonwealth Financial Corp PA grew its stake in shares of Edison International (NYSE:EIX) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,084 shares of the utilities provider’s stock after purchasing an additional 605 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Edison International were worth $878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in Edison International during the 3rd quarter valued at $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International during the second quarter worth about $27,000. Eastern Bank purchased a new stake in shares of Edison International during the third quarter worth about $27,000. Country Trust Bank bought a new stake in shares of Edison International in the second quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. increased its holdings in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Argus upped their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Finally, Morgan Stanley decreased their price target on shares of 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Up 0.0 %

Shares of EIX traded up $0.04 on Wednesday, hitting $87.78. 52,603 shares of the stock traded hands, compared to its average volume of 2,030,555. The company has a market capitalization of $33.98 billion, a PE ratio of 25.73, a P/E/G ratio of 2.09 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year 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 50 day simple moving average of $84.70 and a 200 day simple moving average of $80.35.

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 analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is presently 91.50%.

Insider Transactions at Edison International

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

Edison International Company 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.