Net Worth Advisory Group Buys New Stake in Edison International (NYSE:EIX)

Net Worth Advisory Group bought a new stake in shares of Edison International (NYSE:EIX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,381 shares of the utilities provider’s stock, valued at approximately $643,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Research Global Investors grew its stake in Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Edison International by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after acquiring an additional 305,459 shares in the last quarter. Capital International Investors raised its stake in shares of Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after acquiring an additional 795,950 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Edison International by 0.5% in 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 during the last quarter. Finally, American Century Companies Inc. boosted its position in Edison International by 1.8% during the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after purchasing an additional 67,089 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EIX shares. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays dropped their target price on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Wells Fargo & Company boosted their price target on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Argus upped their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.55.

Edison International Stock Up 0.9 %

EIX opened at $85.43 on Friday. The stock has a fifty day moving average of $85.31 and a 200-day moving average of $77.78. The company has a market capitalization of $32.87 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.95 and a beta of 0.91. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share 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 during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

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 issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is 136.84%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 over the last 90 days. 1.03% of the stock is owned by insiders.

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.