Edison International (NYSE:EIX) Shares Bought by Centennial Wealth Advisory LLC

Centennial Wealth Advisory LLC raised its position in shares of Edison International (NYSE:EIX) by 3.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,378 shares of the utilities provider’s stock after buying an additional 172 shares during the period. Centennial Wealth Advisory LLC’s holdings in Edison International were worth $468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lake Street Advisors Group LLC boosted its position in shares of 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 during the period. Baker Tilly Wealth Management LLC boosted its position in shares of Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after buying an additional 129 shares during the period. SFE Investment Counsel boosted its holdings in Edison International by 0.3% in 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. boosted its holdings in Edison International by 0.9% in 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 boosted its holdings 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 valued at $483,000 after purchasing an additional 134 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Price Performance

EIX stock traded up $0.22 on Wednesday, reaching $82.19. The company had a trading volume of 147,664 shares, compared to its average volume of 1,994,517. Edison International has a 1 year low of $62.21 and a 1 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 company’s fifty day moving average is $85.25 and its 200 day moving average is $79.06. The company has a market cap of $31.82 billion, a P/E ratio of 24.04, a PEG ratio of 1.88 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its 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 analyst estimates of $5.01 billion. During the same quarter in the prior year, the company earned $1.38 EPS. Edison International’s revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast 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 paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EIX shares. 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. Evercore ISI lifted their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays lifted their target price on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.36.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the business’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 transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO J Andrew Murphy sold 1,362 shares of the 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. In the last three months, insiders sold 50,877 shares of company stock worth $4,285,341. 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.