Marks Group Wealth Management Inc Sells 11,006 Shares of Edison International (NYSE:EIX)

Marks Group Wealth Management Inc cut its position in shares of Edison International (NYSE:EIX) by 31.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,667 shares of the utilities provider’s stock after selling 11,006 shares during the period. Marks Group Wealth Management Inc’s holdings in Edison International were worth $1,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kestra Private Wealth Services LLC grew its holdings in Edison International by 50.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 12,093 shares of the utilities provider’s stock worth $966,000 after purchasing an additional 4,066 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of Edison International by 565.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock worth $27,400,000 after acquiring an additional 291,619 shares during the period. Entropy Technologies LP increased its holdings in shares of Edison International by 69.9% during the 4th quarter. Entropy Technologies LP now owns 62,916 shares of the utilities provider’s stock worth $5,023,000 after acquiring an additional 25,889 shares during the last quarter. Empowered Funds LLC raised its stake in Edison International by 35.5% in the 4th quarter. Empowered Funds LLC now owns 8,664 shares of the utilities provider’s stock valued at $692,000 after acquiring an additional 2,272 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Edison International by 49.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,231 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 1,067 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Up 1.3 %

Shares of NYSE EIX opened at $50.84 on Wednesday. The stock has a market capitalization of $19.68 billion, a P/E ratio of 14.91, a PEG ratio of 1.05 and a beta of 0.90. The stock’s fifty day moving average is $69.79 and its 200 day moving average is $79.30. Edison International has a 52 week low of $49.06 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.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were given a $0.8275 dividend. The ex-dividend date was Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.51%. Edison International’s payout ratio is presently 97.07%.

Wall Street Analyst Weigh In

EIX has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on shares of 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 upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a report on Wednesday, January 15th. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. UBS Group reduced their price target 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, Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

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.