Prospera Private Wealth LLC Acquires Shares of 364 Edison International (NYSE:EIX)

Prospera Private Wealth LLC bought a new stake in Edison International (NYSE:EIX) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 364 shares of the utilities provider’s stock, valued at approximately $32,000.

Several other hedge funds and other institutional investors also recently modified their holdings of EIX. Lake Street Advisors Group LLC boosted its stake 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 valued at $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its stake in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares in the last quarter. SFE Investment Counsel boosted its stake in shares of Edison International by 0.3% in the 3rd 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 in the last quarter. Equitable Trust Co. grew its holdings in shares of Edison International by 0.9% during the 2nd 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 last quarter. Finally, TIAA Trust National Association increased its position in Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.7 %

Shares of NYSE EIX opened at $86.51 on Friday. The company’s 50 day moving average price is $84.64 and its 200-day moving average price is $80.08. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The company has a market capitalization of $33.49 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) 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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.61%. Edison International’s dividend payout ratio is currently 91.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Evercore ISI boosted their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Guggenheim boosted their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley dropped their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Insiders Place Their Bets

In related news, 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 transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This trade represents a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,516 shares of company stock worth $4,169,652. 1.03% of the stock is owned by corporate insiders.

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.