Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Edison International (NYSE:EIX)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Edison International (NYSE:EIX) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,688 shares of the utilities provider’s stock after purchasing an additional 389 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Edison International were worth $1,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Edison International during the third quarter valued at approximately $1,387,000. Stifel Financial Corp grew its position 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 valued at $26,973,000 after acquiring an additional 15,181 shares during the period. Baker Avenue Asset Management LP purchased a new stake in shares of Edison International in the 3rd quarter worth $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 worth $44,139,000 after purchasing an additional 60,182 shares during the period. Finally, Bank of Montreal Can lifted its position in Edison International by 5.3% during the second quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider’s stock valued at $50,022,000 after purchasing an additional 34,701 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.03% of the stock is owned by insiders.

Edison International Stock Up 2.2 %

EIX opened at $58.51 on Wednesday. The company has a market capitalization of $22.65 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. The firm has a 50-day simple moving average of $80.71 and a two-hundred day simple moving average of $81.62. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly 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. 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 was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. Analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is currently 97.07%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Barclays reduced their target price on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley lowered their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group assumed 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

About Edison International

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.