Edison International (NYSE:EIX) Shares Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC raised its holdings in Edison International (NYSE:EIX) by 22.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,956 shares of the utilities provider’s stock after acquiring an additional 3,495 shares during the quarter. CWA Asset Management Group LLC’s holdings in Edison International were worth $1,513,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new position in Edison International during the third quarter worth about $26,000. Eastern Bank acquired a new stake in shares of Edison International in the 3rd quarter worth approximately $27,000. Larson Financial Group LLC increased its stake in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Edison International during the 3rd quarter worth $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Edison International in the 2nd quarter valued at about $27,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on EIX shares. Morgan Stanley reduced their price target 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 upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $91.00 to $84.00 in a report on Thursday, January 2nd. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. UBS Group cut their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.00.

Edison International Stock Performance

Shares of NYSE:EIX opened at $78.36 on Tuesday. The business has a 50-day moving average of $82.63 and a two-hundred day moving average of $81.87. The firm has a market capitalization of $30.34 billion, a PE ratio of 22.98, a P/E/G ratio of 1.96 and a beta of 0.93. 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.

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

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

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 stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.03% of the company’s stock.

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.