Legacy Capital Wealth Partners LLC Invests $217,000 in Edison International (NYSE:EIX)

Legacy Capital Wealth Partners LLC acquired a new stake in Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,488 shares of the utilities provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors grew its position in shares of Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after buying an additional 345,189 shares in the last quarter. Capital International Investors boosted its holdings in Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares in the last quarter. American Century Companies Inc. boosted its holdings in Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Edison International by 10.1% in the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after purchasing an additional 190,026 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 in the company, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,878 shares of company stock valued at $4,285,422. 1.03% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on EIX. Guggenheim upped their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley upped their target price on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Finally, Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Trading Up 0.6 %

EIX stock opened at $83.58 on Tuesday. The business has a fifty day moving average price of $84.99 and a 200 day moving average price of $79.30. The stock has a market capitalization of $32.36 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.93 and a beta of 0.92. Edison International has a fifty-two week low of $62.21 and a fifty-two week high of $88.77. 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 (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. Analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is 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.