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

Sterling Group Wealth Management LLC purchased a new position in shares of Edison International (NYSE:EIX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,072 shares of the utilities provider’s stock, valued at approximately $485,000. Edison International comprises 0.3% of Sterling Group Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in shares of Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after purchasing an additional 224,337 shares during the period. FMR LLC raised its stake in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the period. Geode Capital Management LLC raised its stake in Edison International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after buying an additional 210,461 shares during the period. Clearbridge Investments LLC boosted its holdings in Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after acquiring an additional 24,834 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Edison International by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after acquiring an additional 28,240 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EIX shares. 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 report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday. UBS Group lowered their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have given 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 $82.88.

Edison International Stock Down 2.0 %

Shares of NYSE:EIX opened at $57.10 on Friday. The firm has a fifty day moving average of $78.19 and a 200 day moving average of $81.12. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $22.11 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 8.52% and a return on equity of 13.17%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. As a group, research analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

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