Prime Capital Investment Advisors LLC Acquires 3,060 Shares of Edison International (NYSE:EIX)

Prime Capital Investment Advisors LLC grew its holdings in Edison International (NYSE:EIX) by 23.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,968 shares of the utilities provider’s stock after purchasing an additional 3,060 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Edison International were worth $1,391,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Empowered Funds LLC raised its stake in Edison International by 29.8% during the first quarter. Empowered Funds LLC now owns 5,158 shares of the utilities provider’s stock worth $365,000 after acquiring an additional 1,185 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Edison International by 3.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 169 shares during the last quarter. QRG Capital Management Inc. boosted its position in Edison International by 5.7% in the first quarter. QRG Capital Management Inc. now owns 14,693 shares of the utilities provider’s stock valued at $1,039,000 after buying an additional 795 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Edison International by 16.7% during the first quarter. Avantax Advisory Services Inc. now owns 24,641 shares of the utilities provider’s stock worth $1,743,000 after buying an additional 3,527 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of Edison International by 2.9% during the first quarter. Bleakley Financial Group LLC now owns 6,460 shares of the utilities provider’s stock worth $457,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock valued at $4,285,422 in the last three months. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays boosted their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Evercore ISI upped their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. UBS Group raised their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley upped their price target 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. Finally, Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Performance

EIX stock opened at $82.14 on Friday. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a 50-day moving average price of $84.72 and a 200-day moving average price of $79.50. The firm has a market cap of $31.80 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. As a group, equities research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.80%. Edison International’s dividend payout ratio is presently 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.