Sterling Group Wealth Management LLC Acquires Shares of 6,072 Edison International (NYSE:EIX)

Sterling Group Wealth Management LLC purchased a new stake in shares of Edison International (NYSE:EIX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 6,072 shares of the utilities provider’s stock, valued at approximately $485,000. Edison International makes up 0.3% of Sterling Group Wealth Management LLC’s holdings, making the stock its 29th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in Edison International during the 3rd quarter valued at approximately $26,000. Groupama Asset Managment raised its position in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Eastern Bank bought a new position in Edison International in the 3rd quarter worth about $27,000. Larson Financial Group LLC grew its position in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in Edison International during the 3rd quarter valued at about $32,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

EIX opened at $57.10 on Friday. The firm has a market cap of $22.11 billion, a P/E ratio of 16.75, a PEG ratio of 1.20 and a beta of 0.93. Edison International has a 1-year low of $55.27 and a 1-year high of $88.77. The company has a 50 day simple moving average of $78.19 and a two-hundred day simple moving average of $81.12. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

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

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a yield of 5.80%. Edison International’s payout ratio is currently 97.07%.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The stock was 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 SEC, which is available at this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. UBS Group lowered their target price 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 dropped their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

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.