Edison International (NYSE:EIX) Shares Sold by Cypress Wealth Services LLC

Cypress Wealth Services LLC trimmed its stake in shares of Edison International (NYSE:EIX) by 37.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,377 shares of the utilities provider’s stock after selling 2,672 shares during the period. Cypress Wealth Services LLC’s holdings in Edison International were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new position in shares of Edison International in the third quarter worth about $26,000. Groupama Asset Managment raised its holdings in 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 period. Eastern Bank purchased a new position in Edison International during the third quarter worth approximately $27,000. Larson Financial Group LLC grew its holdings in Edison International by 125.0% in the third 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 period. Finally, Prospera Private Wealth LLC acquired a new stake in Edison International in the third quarter valued at approximately $32,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 filing with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Edison International Trading Up 2.6 %

Shares of EIX opened at $62.72 on Friday. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. The firm has a market capitalization of $24.28 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.34 and a beta of 0.93. The firm has a 50-day moving average price of $79.91 and a 200 day moving average price of $81.34. 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 announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the firm earned $1.38 EPS. The business’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EIX shares. Morgan Stanley decreased their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group assumed coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus target price of $83.58.

Edison International 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.