EP Wealth Advisors LLC grew its stake in Edison International (NYSE:EIX - Free Report) by 77.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,220 shares of the utilities provider's stock after purchasing an additional 8,369 shares during the period. EP Wealth Advisors LLC's holdings in Edison International were worth $1,674,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Lake Street Advisors Group LLC grew its position in Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider's stock worth $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC grew its holdings in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider's stock worth $416,000 after purchasing an additional 129 shares in the last quarter. SFE Investment Counsel increased its position in shares of Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock valued at $3,721,000 after purchasing an additional 130 shares during the period. Equitable Trust Co. increased its position in shares of Edison International by 0.9% during the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock valued at $1,108,000 after purchasing an additional 132 shares during the period. Finally, TIAA Trust National Association lifted its position in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock worth $483,000 after purchasing an additional 134 shares during the period. Institutional investors own 88.95% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on EIX shares. Argus increased their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Barclays increased their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price objective on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, August 14th. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They issued a "buy" rating and a $95.00 target price for the company. Finally, UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.75.
Get Our Latest Report on Edison International
Insider Activity
In related news, VP Adam S. Umanoff sold 25,619 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.
Edison International Price Performance
NYSE EIX traded down $0.22 on Tuesday, hitting $82.80. 2,430,043 shares of the company were exchanged, compared to its average volume of 2,036,463. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The firm has a 50 day moving average of $84.67 and a two-hundred day moving average of $80.99. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market cap of $32.05 billion, a P/E ratio of 24.28, a P/E/G ratio of 2.01 and a beta of 0.92.
Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 earnings per share. On average, equities analysts predict that Edison International will post 4.95 EPS for the current year.
Edison International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.77%. Edison International's payout ratio is currently 91.50%.
About Edison International
(
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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