Drucker Wealth 3.0 LLC Raises Stake in Edison International (NYSE:EIX)

Drucker Wealth 3.0 LLC lifted its stake in shares of Edison International (NYSE:EIX) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,679 shares of the utilities provider’s stock after acquiring an additional 849 shares during the period. Edison International accounts for approximately 1.2% of Drucker Wealth 3.0 LLC’s portfolio, making the stock its 26th biggest position. Drucker Wealth 3.0 LLC’s holdings in Edison International were worth $4,849,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

EIX has been the subject of a number of recent analyst reports. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Argus boosted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. UBS Group increased their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Royal Bank of Canada boosted their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Performance

Shares of EIX stock opened at $83.95 on Monday. The stock has a 50 day simple moving average of $84.75 and a 200-day simple moving average of $80.93. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a market cap of $32.50 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 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 for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.72%. Edison International’s payout ratio is 91.50%.

Insiders Place Their Bets

In other 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 value of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

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.