Edison International (NYSE:EIX) Shares Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC lifted its position in shares of Edison International (NYSE:EIX) by 22.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,956 shares of the utilities provider’s stock after buying an additional 3,495 shares during the period. CWA Asset Management Group LLC’s holdings in Edison International were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in EIX. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Edison International in the third quarter worth approximately $1,387,000. Stifel Financial Corp grew its holdings in shares of Edison International by 5.2% during the 3rd quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider’s stock worth $26,973,000 after purchasing an additional 15,181 shares during the period. Baker Avenue Asset Management LP acquired a new stake in shares of Edison International during the 3rd quarter worth about $2,291,000. Swedbank AB raised its holdings in Edison International by 13.5% in the 3rd quarter. Swedbank AB now owns 506,819 shares of the utilities provider’s stock valued at $44,139,000 after buying an additional 60,182 shares during the period. Finally, Bank of Montreal Can lifted its position in Edison International by 5.3% in the second quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider’s stock valued at $50,022,000 after buying an additional 34,701 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EIX shares. Morgan Stanley dropped their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Royal Bank of Canada boosted their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Argus raised their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Edison International currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Edison International Stock Performance

Shares of EIX stock opened at $78.36 on Tuesday. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. 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 firm has a market cap of $30.34 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.96 and a beta of 0.93. The stock’s 50-day moving average is $82.63 and its two-hundred day moving average is $81.87.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the firm posted $1.38 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 4.22%. This is a boost 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 (DPR) is presently 97.07%.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.03% of the company’s stock.

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.