Sound Income Strategies LLC Raises Stock Position in Edison International (NYSE:EIX)

Sound Income Strategies LLC grew its position in shares of Edison International (NYSE:EIX - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 184,925 shares of the utilities provider's stock after purchasing an additional 6,892 shares during the quarter. Sound Income Strategies LLC's holdings in Edison International were worth $16,105,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EIX. Exchange Traded Concepts LLC grew its position in shares of Edison International by 597.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,858 shares of the utilities provider's stock worth $336,000 after buying an additional 3,305 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in Edison International by 357.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,176 shares of the utilities provider's stock valued at $189,000 after purchasing an additional 1,700 shares during the period. LVW Advisors LLC grew its position in Edison International by 17.2% in the 3rd quarter. LVW Advisors LLC now owns 5,706 shares of the utilities provider's stock valued at $497,000 after purchasing an additional 839 shares during the period. Clarius Group LLC acquired a new stake in Edison International in the 3rd quarter valued at $211,000. Finally, UMB Bank n.a. grew its position in Edison International by 10.0% in the 3rd quarter. UMB Bank n.a. now owns 2,413 shares of the utilities provider's stock valued at $210,000 after purchasing an additional 219 shares during the period. Institutional investors own 88.95% of the company's stock.

Edison International Stock Performance

EIX stock traded up $0.60 during midday trading on Friday, reaching $83.61. The stock had a trading volume of 1,645,487 shares, compared to its average volume of 1,883,905. The stock has a market cap of $32.29 billion, a PE ratio of 33.58, a P/E/G ratio of 1.92 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The firm has a fifty day simple moving average of $84.94 and a two-hundred day simple moving average of $77.27. Edison International has a 52-week low of $61.64 and a 52-week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.12 billion. During the same period last year, the firm earned $1.01 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Edison International will post 4.97 EPS for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Monday, October 7th. Edison International's dividend payout ratio (DPR) is 125.30%.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company's stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock valued at $7,223,342 in the last ninety days. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Guggenheim lifted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Morgan Stanley lifted their target price on Edison International from $68.00 to $72.00 and gave the stock an "underweight" rating in a research note on Wednesday, September 25th. Argus lifted their target price on Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their target price on Edison International from $86.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Edison International has an average rating of "Hold" and an average price target of $86.67.

About Edison International

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.