Centennial Wealth Advisory LLC Raises Stock Holdings in Edison International (NYSE:EIX)

Centennial Wealth Advisory LLC increased its position in Edison International (NYSE:EIX) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,378 shares of the utilities provider’s stock after purchasing an additional 172 shares during the period. Centennial Wealth Advisory LLC’s holdings in Edison International were worth $468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in shares of Edison International in the third quarter worth $26,000. Ashton Thomas Private Wealth LLC bought a new position in Edison International in the second quarter valued at about $27,000. Eastern Bank bought a new position in Edison International in the third quarter valued at about $27,000. Country Trust Bank bought a new position in Edison International in the second quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,877 shares of company stock valued at $4,285,341. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. UBS Group upped their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company upped their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI upped their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Edison International Stock Up 0.3 %

Shares of EIX traded up $0.22 during trading hours on Wednesday, hitting $82.19. The company had a trading volume of 147,664 shares, compared to its average volume of 1,994,517. The company has a market capitalization of $31.82 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.88 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 has a one year low of $62.21 and a one year high of $88.77. The company’s fifty day moving average price is $85.25 and its two-hundred day moving average price is $79.06.

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

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is presently 91.50%.

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.