Private Advisor Group LLC Decreases Stock Holdings in Edison International (NYSE:EIX)

Private Advisor Group LLC trimmed its position in Edison International (NYSE:EIX) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,434 shares of the utilities provider’s stock after selling 1,710 shares during the quarter. Private Advisor Group LLC’s holdings in Edison International were worth $1,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EIX. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International in the second quarter worth $27,000. Eastern Bank purchased a new position in shares of Edison International in the third quarter worth $27,000. Country Trust Bank purchased a new position in shares of Edison International in the second quarter worth $29,000. Farmers & Merchants Investments Inc. increased its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of Edison International in the second quarter worth $32,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Edison International Stock Performance

Shares of EIX stock opened at $83.24 on Thursday. Edison International has a 12 month low of $62.21 and a 12 month high of $88.77. The stock has a market cap of $32.15 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company’s fifty day moving average price is $85.50 and its 200-day moving average price is $78.61.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.12. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS. On average, equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s payout ratio is 125.30%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EIX shares. Bank of America started coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Guggenheim boosted their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, UBS Group boosted their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.36.

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.