Wealth Enhancement Advisory Services LLC Has $1.77 Million Stock Position in Edison International (NYSE:EIX)

Wealth Enhancement Advisory Services LLC decreased its holdings in Edison International (NYSE:EIX - Free Report) by 24.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,299 shares of the utilities provider's stock after selling 6,557 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Edison International were worth $1,768,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EIX. Capital Research Global Investors boosted its stake in shares of Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider's stock valued at $1,438,984,000 after buying an additional 345,189 shares during the period. Pzena Investment Management LLC grew its stake in Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider's stock valued at $962,287,000 after purchasing an additional 305,459 shares in the last quarter. Capital International Investors increased its position in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider's stock worth $940,562,000 after purchasing an additional 795,950 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Edison International by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider's stock worth $360,198,000 after purchasing an additional 24,834 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider's stock valued at $277,503,000 after buying an additional 67,089 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO J Andrew Murphy sold 1,362 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 1,362 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company's stock, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,877 shares of company stock worth $4,285,341. Corporate insiders own 1.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EIX. Morgan Stanley raised their price objective on shares of Edison International from $68.00 to $72.00 and gave the company an "underweight" rating in a research report on Wednesday, September 25th. Royal Bank of Canada increased their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.36.

Edison International Stock Performance

Shares of NYSE:EIX traded down $0.13 on Monday, hitting $81.00. 2,855,045 shares of the company were exchanged, compared to its average volume of 2,004,074. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.96 and a current ratio of 0.88. The company's 50 day moving average price is $85.31 and its two-hundred day moving average price is $78.98. Edison International has a one year low of $62.21 and a one year high of $88.77. The firm has a market capitalization of $31.36 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.92 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 13.17% and a net margin of 8.52%. Edison International's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. Research analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 annualized dividend and a dividend yield of 3.85%. Edison International's dividend payout ratio (DPR) is presently 91.50%.

Edison International 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.