World Investment Advisors LLC Purchases Shares of 2,539 Edison International (NYSE:EIX)

World Investment Advisors LLC acquired a new position in Edison International (NYSE:EIX) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 2,539 shares of the utilities provider’s stock, valued at approximately $221,000.

Several other large investors have also recently modified their holdings of the stock. Lake Street Advisors Group LLC boosted its position in Edison International by 4.3% during the 3rd 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 during the period. Baker Tilly Wealth Management LLC boosted its holdings in shares of Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares during the period. SFE Investment Counsel boosted its holdings in shares of Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares during the period. Equitable Trust Co. grew its stake in shares of Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 132 shares during the last quarter. Finally, TIAA Trust National Association increased its holdings 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 valued at $483,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.4 %

Shares of EIX opened at $77.93 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The business has a fifty day moving average of $83.88 and a 200 day moving average of $81.24. The company has a market cap of $30.17 billion, a PE ratio of 22.85, a P/E/G ratio of 1.96 and a beta of 0.92. Edison International has a 52-week low of $63.15 and a 52-week 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, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 4.25%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. 1.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EIX. Barclays lifted their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company upped their price objective 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. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Finally, Argus increased their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.58.

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.