Sound Income Strategies LLC Boosts Stock Holdings in Edison International (NYSE:EIX)

Sound Income Strategies LLC lifted its stake in Edison International (NYSE:EIX) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,788 shares of the utilities provider’s stock after purchasing an additional 10,863 shares during the period. Sound Income Strategies LLC owned about 0.05% of Edison International worth $15,632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Group Wealth Management LLC acquired a new position in Edison International during the 4th quarter worth approximately $485,000. Raleigh Capital Management Inc. grew its stake in shares of Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 311 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Edison International by 0.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,614 shares of the utilities provider’s stock worth $7,315,000 after purchasing an additional 682 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Edison International by 1.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 31,406 shares of the utilities provider’s stock valued at $2,507,000 after buying an additional 524 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in Edison International by 6.0% during the 4th quarter. Atomi Financial Group Inc. now owns 4,620 shares of the utilities provider’s stock worth $369,000 after buying an additional 260 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EIX has been the topic of several research analyst reports. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. UBS Group cut their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Barclays reduced their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is currently owned by corporate insiders.

Edison International Price Performance

Shares of EIX opened at $57.10 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a fifty-two week low of $55.27 and a fifty-two week high of $88.77. The firm has a 50-day simple moving average of $78.19 and a 200-day simple moving average of $81.12. The company has a market capitalization of $22.11 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the business earned $1.38 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.80%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is 97.07%.

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.