Hennion & Walsh Asset Management Inc. Acquires Shares of 2,941 Edison International (NYSE:EIX)

Hennion & Walsh Asset Management Inc. bought a new position in shares of Edison International (NYSE:EIX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,941 shares of the utilities provider’s stock, valued at approximately $235,000.

Other large investors have also made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in Edison International in the 3rd quarter worth $26,000. Groupama Asset Managment grew its position in shares of Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Eastern Bank purchased a new stake in shares of Edison International during the third quarter worth about $27,000. Larson Financial Group LLC raised its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Edison International during the 3rd quarter worth about $32,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

Edison International Stock Performance

NYSE:EIX opened at $62.24 on Wednesday. The company’s 50-day moving average is $79.08 and its two-hundred day moving average is $81.35. Edison International has a 1-year low of $55.27 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.29 and a beta of 0.93.

Edison International (NYSE:EIX) last released its quarterly earnings data 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 firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. Analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 dividend yield of 5.32%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Analysts Set New Price Targets

EIX has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays dropped their price target on Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Finally, UBS Group decreased their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.58.

Edison International 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.