Creative Planning Has $3.44 Million Stock Holdings in Edison International (NYSE:EIX)

Creative Planning trimmed its stake in shares of Edison International (NYSE:EIX) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,884 shares of the utilities provider’s stock after selling 993 shares during the period. Creative Planning’s holdings in Edison International were worth $3,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Able Wealth Management LLC purchased a new stake in Edison International during the fourth quarter valued at about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the 2nd quarter valued at approximately $27,000. Global Trust Asset Management LLC acquired a new position in Edison International in the 1st quarter worth approximately $28,000. Country Trust Bank acquired a new position in Edison International in the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. grew its position in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 89,099 shares of company stock valued at $7,223,342. Company insiders own 1.03% of the company’s stock.

Edison International Stock Down 0.5 %

EIX stock opened at $86.18 on Friday. The firm has a market cap of $33.16 billion, a PE ratio of 37.80, a PEG ratio of 2.01 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The company has a fifty day simple moving average of $84.56 and a 200 day simple moving average of $76.70. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s payout ratio is 136.84%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EIX shares. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Royal Bank of Canada raised their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday. Evercore ISI boosted 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. Finally, Morgan Stanley increased their target price on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Edison International presently has a consensus rating of “Hold” and an average price target of $86.67.

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.