CreativeOne Wealth LLC Makes New $394,000 Investment in Edison International (NYSE:EIX)

CreativeOne Wealth LLC acquired a new position in Edison International (NYSE:EIX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,528 shares of the utilities provider’s stock, valued at approximately $394,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lake Street Advisors Group LLC grew its position in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after buying an additional 129 shares during the last quarter. SFE Investment Counsel increased its holdings in shares of Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after buying an additional 130 shares during the last quarter. Equitable Trust Co. increased its holdings in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares during the last quarter. Finally, TIAA Trust National Association grew its holdings in shares of Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 134 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $87.75 on Monday. The company has a 50 day moving average price of $84.89 and a 200-day moving average price of $80.63. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The firm has a market capitalization of $33.97 billion, a PE ratio of 25.73, a P/E/G ratio of 2.10 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

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

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.56%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EIX shares. Evercore ISI raised their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays lifted their target price 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. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley decreased their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is currently owned by company insiders.

About Edison International

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.