EP Wealth Advisors LLC Grows Holdings in Edison International (NYSE:EIX)

EP Wealth Advisors LLC grew its stake in shares of Edison International (NYSE:EIX) by 9.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,851 shares of the utilities provider’s stock after purchasing an additional 937 shares during the quarter. EP Wealth Advisors LLC’s holdings in Edison International were worth $779,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP boosted its position in Edison International by 154.0% in the 2nd quarter. Quarry LP now owns 37,371 shares of the utilities provider’s stock valued at $2,684,000 after buying an additional 22,658 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Edison International by 8.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock valued at $727,000 after purchasing an additional 816 shares during the period. Duff & Phelps Investment Management Co. grew its stake in Edison International by 23.5% in the second quarter. Duff & Phelps Investment Management Co. now owns 494,197 shares of the utilities provider’s stock worth $35,488,000 after purchasing an additional 93,935 shares in the last quarter. Scientech Research LLC purchased a new position in Edison International during the 2nd quarter worth $494,000. Finally, Mackenzie Financial Corp raised its position in Edison International by 15.3% during the 2nd quarter. Mackenzie Financial Corp now owns 451,706 shares of the utilities provider’s stock valued at $32,437,000 after purchasing an additional 59,844 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. 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 price target on the stock. 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 report on Wednesday, September 25th. Wells Fargo & Company boosted their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Argus increased their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Barclays lifted their price objective on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $86.17.

Insider Activity

In related news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock valued at $7,223,342 over the last ninety days. 1.03% of the stock is currently owned by insiders.

Edison International Stock Down 0.3 %

Edison International stock opened at $87.48 on Thursday. The business has a fifty day moving average price of $84.20 and a 200-day moving average price of $76.51. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The stock has a market capitalization of $33.78 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 2.01 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96.

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

Edison International Announces Dividend

The business 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 dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.57%. Edison International’s payout ratio is currently 136.84%.

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.