RBA Wealth Management LLC Raises Stake in Edison International (NYSE:EIX)

RBA Wealth Management LLC raised its position in Edison International (NYSE:EIX) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,014 shares of the utilities provider’s stock after acquiring an additional 1,964 shares during the quarter. RBA Wealth Management LLC’s holdings in Edison International were worth $3,485,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Eastern Bank purchased a new position in Edison International in the third quarter worth approximately $27,000. Sweeney & Michel LLC purchased a new position in Edison International in the third quarter worth approximately $218,000. Foundations Investment Advisors LLC lifted its position in shares of Edison International by 10.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 9,551 shares of the utilities provider’s stock worth $832,000 after buying an additional 892 shares during the last quarter. Venture Visionary Partners LLC purchased a new stake in shares of Edison International during the 3rd quarter worth approximately $229,000. Finally, Violich Capital Management Inc. purchased a new stake in shares of Edison International during the 3rd quarter worth approximately $340,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EIX shares. Wells Fargo & Company boosted their price objective on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays reduced their price objective on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Guggenheim boosted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Morgan Stanley boosted their price objective on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Finally, Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.55.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 in the last ninety days. 1.03% of the stock is currently owned by company insiders.

Edison International Stock Performance

EIX traded up $1.22 during trading on Tuesday, hitting $85.83. The stock had a trading volume of 1,782,613 shares, compared to its average volume of 1,990,855. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The firm has a market capitalization of $33.15 billion, a P/E ratio of 33.98, a PEG ratio of 1.98 and a beta of 0.91. The company’s 50-day moving average price is $85.35 and its 200 day moving average price is $77.94. Edison International has a twelve month low of $61.64 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, equities research analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. Edison International’s dividend payout ratio (DPR) is presently 125.30%.

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.