Fifth Third Wealth Advisors LLC Grows Position in Edison International (NYSE:EIX)

Fifth Third Wealth Advisors LLC increased its position in Edison International (NYSE:EIX) by 51.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,494 shares of the utilities provider’s stock after purchasing an additional 2,554 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Edison International were worth $653,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in shares of Edison International in the 3rd quarter worth about $26,000. Eastern Bank purchased a new stake in Edison International in the third quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International during the second quarter valued at approximately $27,000. Concord Wealth Partners lifted its holdings in shares of Edison International by 277.0% during the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 277 shares during the last quarter. Finally, Country Trust Bank bought a new stake in shares of Edison International in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EIX. Barclays raised their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price target on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. UBS Group increased 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. Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Argus upped their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average target price of $88.75.

Insider Activity

In related news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Insiders sold a total of 50,878 shares of company stock valued at $4,285,422 in the last 90 days. Company insiders own 1.03% of the company’s stock.

Edison International Stock Up 0.6 %

Edison International stock opened at $86.12 on Thursday. Edison International has a one year low of $63.15 and a one year high of $88.77. The stock has a fifty day moving average of $84.57 and a 200 day moving average of $79.94. 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 stock has a market cap of $33.34 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.38 EPS. As a group, sell-side analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is presently 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.