Edison International (NYSE:EIX) Stock Position Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in Edison International (NYSE:EIXFree Report) by 12.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,508 shares of the utilities provider’s stock after acquiring an additional 2,431 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Edison International were worth $1,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its position in Edison International by 61.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 5,236 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 1,984 shares during the period. Glenmede Trust Co. NA grew its position in shares of Edison International by 38.5% during the third quarter. Glenmede Trust Co. NA now owns 7,649 shares of the utilities provider’s stock worth $484,000 after acquiring an additional 2,126 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Edison International by 166.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 750,442 shares of the utilities provider’s stock worth $47,523,000 after acquiring an additional 468,594 shares during the period. Lido Advisors LLC lifted its position in Edison International by 7.1% in the 3rd quarter. Lido Advisors LLC now owns 8,975 shares of the utilities provider’s stock valued at $568,000 after purchasing an additional 596 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in Edison International during the 3rd quarter valued at about $201,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Up 0.8 %

Shares of Edison International stock opened at $72.39 on Friday. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $77.04. The firm has a market cap of $27.85 billion, a price-to-earnings ratio of 31.75 and a beta of 0.91. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The business has a fifty day simple moving average of $73.56 and a 200-day simple moving average of $70.52.

Edison International (NYSE:EIXGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter last year, the business posted $1.09 EPS. Edison International’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio is 136.84%.

Insiders Place Their Bets

In other news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the sale, the senior vice president now owns 26,918 shares in the company, valued at $2,039,576.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $75.07, for a total transaction of $735,235.58. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,897 shares of company stock worth $5,851,245. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EIX. The Goldman Sachs Group initiated coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target on the stock. Barclays lifted their target price on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $72.00 to $86.00 in a report on Tuesday, May 14th. Morgan Stanley reduced their price objective on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Finally, Argus raised their target price on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and an average target price of $77.40.

Read Our Latest Stock Report on EIX

Edison International Profile

(Free Report)

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.

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

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