WESPAC Advisors LLC Acquires Shares of 8,770 Edison International (NYSE:EIX)

WESPAC Advisors LLC bought a new position in Edison International (NYSE:EIX) in the 3rd quarter, HoldingsChannel reports. The fund bought 8,770 shares of the utilities provider’s stock, valued at approximately $764,000.

Other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC bought a new stake in Edison International during the first quarter valued at $230,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Edison International during the third quarter worth about $1,387,000. Swedbank AB lifted its holdings in Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after acquiring an additional 193,307 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Edison International by 150.6% in the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after acquiring an additional 102,000 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of Edison International by 955.8% during the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock valued at $7,413,000 after purchasing an additional 94,878 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EIX shares. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday. UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Barclays increased their price objective 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. Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Finally, Royal Bank of Canada raised their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 54.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,516 shares of company stock worth $4,169,652 in the last quarter. 1.03% of the stock is owned by company insiders.

Edison International Price Performance

Shares of NYSE:EIX opened at $86.48 on Friday. The stock has a market cap of $33.48 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.08 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The stock’s 50 day moving average price is $84.64 and its 200 day moving average price is $80.13.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is 91.50%.

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.