Prospera Private Wealth LLC Takes $32,000 Position in Edison International (NYSE:EIX)

Prospera Private Wealth LLC bought a new position in shares of Edison International (NYSE:EIX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 364 shares of the utilities provider’s stock, valued at approximately $32,000.

A number of other large investors also recently modified their holdings of EIX. O Shaughnessy Asset Management LLC lifted its stake in shares of Edison International by 88.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 19,265 shares of the utilities provider’s stock valued at $1,363,000 after buying an additional 9,044 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Edison International by 4.4% in the 1st quarter. Bessemer Group Inc. now owns 11,091 shares of the utilities provider’s stock worth $784,000 after acquiring an additional 469 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Edison International in the 1st quarter valued at about $230,000. EP Wealth Advisors LLC boosted its stake in Edison International by 6.4% during the 1st quarter. EP Wealth Advisors LLC now owns 9,914 shares of the utilities provider’s stock valued at $701,000 after purchasing an additional 595 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Edison International by 7.4% during the 1st quarter. Lazard Asset Management LLC now owns 11,841 shares of the utilities provider’s stock worth $836,000 after purchasing an additional 819 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The trade was a 54.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the firm’s 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 49,516 shares of company stock valued at $4,169,652. Company insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Morgan Stanley cut their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday. Barclays increased their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Evercore ISI boosted their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Guggenheim increased their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Performance

NYSE:EIX opened at $86.51 on Friday. The company has a market capitalization of $33.49 billion, a P/E ratio of 25.37, a P/E/G ratio of 2.05 and a beta of 0.92. The business has a fifty day simple moving average of $84.64 and a two-hundred day simple moving average of $80.08. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. On average, analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently declared 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

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.