Exchange Traded Concepts LLC Grows Stock Holdings in Edison International (NYSE:EIX)

Exchange Traded Concepts LLC boosted its stake in shares of Edison International (NYSE:EIX) by 597.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,858 shares of the utilities provider’s stock after buying an additional 3,305 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Edison International were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Edison International by 357.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,176 shares of the utilities provider’s stock worth $189,000 after acquiring an additional 1,700 shares during the period. LVW Advisors LLC boosted its position in Edison International by 17.2% during the third quarter. LVW Advisors LLC now owns 5,706 shares of the utilities provider’s stock worth $497,000 after purchasing an additional 839 shares in the last quarter. Clarius Group LLC acquired a new stake in Edison International in the third quarter valued at $211,000. UMB Bank n.a. increased its position in shares of Edison International by 10.0% in the third quarter. UMB Bank n.a. now owns 2,413 shares of the utilities provider’s stock valued at $210,000 after buying an additional 219 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. raised its stake in shares of Edison International by 28.6% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 5,710 shares of the utilities provider’s stock worth $497,000 after buying an additional 1,269 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EIX. Morgan Stanley increased their price objective on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Evercore ISI increased 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. Wells Fargo & Company lifted their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.55.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is currently owned by company insiders.

Edison International Stock Performance

NYSE EIX opened at $85.43 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $32.87 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The business’s 50-day moving average price is $85.31 and its 200 day moving average price is $77.78. Edison International has a twelve month low of $61.64 and a twelve month high of $88.77.

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

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be issued 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 3.65%. Edison International’s payout ratio is 136.84%.

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.