Mitchell & Pahl Private Wealth LLC Sells 412 Shares of Edison International (NYSE:EIX)

Mitchell & Pahl Private Wealth LLC lowered its position in shares of Edison International (NYSE:EIX) by 11.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,122 shares of the utilities provider’s stock after selling 412 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Edison International were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EIX. Federated Hermes Inc. raised its position in shares of Edison International by 87.9% during the second quarter. Federated Hermes Inc. now owns 3,326 shares of the utilities provider’s stock worth $239,000 after acquiring an additional 1,556 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of Edison International during the second quarter worth $223,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Edison International by 9.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,038 shares of the utilities provider’s stock worth $793,000 after acquiring an additional 980 shares during the last quarter. Sei Investments Co. raised its position in shares of Edison International by 8.2% during the second quarter. Sei Investments Co. now owns 347,813 shares of the utilities provider’s stock worth $24,976,000 after acquiring an additional 26,246 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its position in shares of Edison International by 11.1% during the second quarter. Ensign Peak Advisors Inc now owns 276,059 shares of the utilities provider’s stock worth $19,824,000 after acquiring an additional 27,595 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was 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 through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EIX shares. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. Morgan Stanley decreased their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group started 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. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group decreased 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. One investment 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, the company currently has an average rating of “Moderate Buy” and an average price target of $83.58.

Edison International Stock Down 0.7 %

NYSE:EIX opened at $62.24 on Wednesday. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.29 and a beta of 0.93. The stock has a 50-day moving average price of $79.08 and a two-hundred day moving average price of $81.35.

Edison International (NYSE:EIX) last issued 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. The company had revenue of $5.20 billion for 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 company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 earnings per share. As a group, equities analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently declared 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 represents a $3.31 dividend on an annualized basis and a dividend yield of 5.32%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is 97.07%.

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.