CreativeOne Wealth LLC Makes New $394,000 Investment in Edison International (NYSE:EIX)

CreativeOne Wealth LLC purchased a new position in Edison International (NYSE:EIX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,528 shares of the utilities provider’s stock, valued at approximately $394,000.

A number of other hedge funds have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Edison International in the third quarter worth approximately $132,000. Blueshift Asset Management LLC bought a new position in shares of Edison International in the third quarter worth approximately $655,000. Glenmede Trust Co. NA boosted its position in shares of Edison International by 5.5% in the third quarter. Glenmede Trust Co. NA now owns 7,668 shares of the utilities provider’s stock worth $668,000 after purchasing an additional 400 shares during the period. Townsquare Capital LLC boosted its position in shares of Edison International by 3.3% in the third quarter. Townsquare Capital LLC now owns 63,187 shares of the utilities provider’s stock worth $5,503,000 after purchasing an additional 2,009 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Edison International in the third quarter worth approximately $62,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

Edison International stock opened at $87.75 on Monday. The company has a market cap of $33.97 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 2.10 and a beta of 0.92. The firm’s fifty day moving average is $84.89 and its 200 day moving average is $80.63. 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 $63.15 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Sell-side analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley lowered their target price 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. Barclays boosted their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Evercore ISI boosted their target price 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. One research 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’s stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

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.