LVW Advisors LLC Purchases 839 Shares of Edison International (NYSE:EIX)

LVW Advisors LLC lifted its position in shares of Edison International (NYSE:EIX) by 17.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,706 shares of the utilities provider’s stock after buying an additional 839 shares during the quarter. LVW Advisors LLC’s holdings in Edison International were worth $497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. Capital Research Global Investors grew its position in Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares during the period. Pzena Investment Management LLC grew its position in Edison International by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after purchasing an additional 305,459 shares during the period. Capital International Investors grew its position in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after purchasing an additional 795,950 shares during the period. Wellington Management Group LLP grew its position in Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after purchasing an additional 433,845 shares during the period. Finally, Clearbridge Investments LLC grew its position in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after purchasing an additional 24,834 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EIX. Bank of America began coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their price objective on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. UBS Group boosted their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley boosted their price objective on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $86.67.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 firm’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 completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 in the last three months. Corporate insiders own 1.03% of the company’s stock.

Edison International Stock Up 0.7 %

Shares of EIX stock opened at $83.61 on Friday. The company’s fifty day simple moving average is $84.94 and its two-hundred day simple moving average is $77.20. Edison International has a 52 week low of $61.64 and a 52 week high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The stock has a market cap of $32.17 billion, a P/E ratio of 36.67, a PEG ratio of 1.95 and a beta of 0.91.

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

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. Edison International’s dividend payout ratio is currently 136.84%.

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.