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

Modern Wealth Management LLC decreased its position in shares of Edison International (NYSE:EIX) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in shares of Edison International during the fourth quarter worth approximately $25,000. Groupama Asset Managment grew its position in Edison International by 0.8% during 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 last quarter. Larson Financial Group LLC increased its stake 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. Sierra Ocean LLC purchased a new stake in shares of Edison International in the fourth quarter valued at about $33,000. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the topic of several recent research reports. Morgan Stanley boosted their price target on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. 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 report on Wednesday, January 15th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Down 0.8 %

EIX opened at $57.33 on Friday. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The business has a 50-day moving average of $55.09 and a two-hundred day moving average of $72.78. 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 stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

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

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.77%. Edison International’s dividend payout ratio (DPR) is 100.30%.

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.