Wealth Enhancement Advisory Services LLC Boosts Position in Edison International (NYSE:EIX)

Wealth Enhancement Advisory Services LLC raised its stake in Edison International (NYSE:EIX) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,688 shares of the utilities provider’s stock after buying an additional 389 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Edison International were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in EIX. Highline Wealth Partners LLC purchased a new stake in shares of Edison International in the third quarter valued at approximately $26,000. Eastern Bank purchased a new stake in shares of Edison International in the 3rd quarter worth $27,000. Larson Financial Group LLC grew its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Edison International during the third quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the second quarter valued at about $27,000. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EIX. Wells Fargo & Company increased their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group dropped their price objective on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Barclays reduced their price objective on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Insider Buying and Selling

In other news, VP Adam S. Umanoff sold 25,619 shares of the 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 sale was disclosed in a document filed with the SEC, which is available through this link. 1.03% of the stock is currently owned by company insiders.

Edison International Trading Up 2.2 %

Edison International stock opened at $58.51 on Wednesday. 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 stock has a market cap of $22.65 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. The stock has a 50-day moving average of $80.71 and a two-hundred day moving average of $81.62. Edison International has a one year low of $55.27 and a one year high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the business earned $1.38 EPS. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.66%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio is presently 97.07%.

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.