Edison International (NYSE:EIX) Stock Position Lessened by Wealth Enhancement Advisory Services LLC

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

A number of other institutional investors also recently made changes to their positions in EIX. Lake Street Advisors Group LLC lifted its position in Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares during the period. Equitable Trust Co. boosted its stake in 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 buying an additional 132 shares in the last quarter. TIAA Trust National Association boosted its stake in Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Finally, Asset Dedication LLC lifted its holdings in Edison International by 37.5% in the 2nd quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 150 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. UBS Group upped their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Barclays raised their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.36.

Edison International Price Performance

Shares of EIX opened at $81.13 on Monday. The business’s 50-day moving average is $85.39 and its 200-day moving average is $78.89. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.96. The company has a market capitalization of $31.41 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 1.92 and a beta of 0.92. Edison International has a fifty-two week low of $62.21 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. 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 business earned $1.38 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.85%. Edison International’s payout ratio is 91.50%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction 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 $1,687,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.03% of the company’s stock.

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.