Edison International (NYSE:EIX) Shares Sold by Modern Wealth Management LLC

Modern Wealth Management LLC decreased its position in Edison International (NYSE:EIX) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,754 shares of the utilities provider’s stock after selling 624 shares during the period. Modern Wealth Management LLC’s holdings in Edison International were worth $380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jamison Private Wealth Management Inc. raised its position in Edison International by 2.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after purchasing an additional 174 shares during the period. Bleakley Financial Group LLC increased its position in shares of Edison International by 2.9% during the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 176 shares during the last quarter. Old Port Advisors increased its position in shares of Edison International by 0.9% during the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after purchasing an additional 180 shares during the last quarter. Larson Financial Group LLC raised its holdings in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares during the period. Finally, Centre Asset Management LLC increased its position in shares of Edison International by 8.1% during the fourth quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 199 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE:EIX opened at $57.33 on Friday. The firm has a market capitalization of $22.07 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business’s fifty day moving average price is $55.09 and its 200 day moving average price is $72.78. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.77%. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Ratings Changes

A number of research firms recently weighed in on EIX. Mizuho lowered their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Barclays dropped their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group dropped their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.82.

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.