Edison International (NYSE:EIX) Shares Sold by MML Investors Services LLC

MML Investors Services LLC lessened its holdings in shares of Edison International (NYSE:EIX) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,834 shares of the utilities provider’s stock after selling 250 shares during the period. MML Investors Services LLC’s holdings in Edison International were worth $4,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lake Street Advisors Group LLC increased its position in Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in shares of Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares during the period. SFE Investment Counsel raised its stake in shares of Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after purchasing an additional 130 shares in the last quarter. Equitable Trust Co. lifted its holdings in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 132 shares during the period. Finally, TIAA Trust National Association grew its position in Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Up 0.3 %

Shares of EIX opened at $81.89 on Friday. The business’s 50-day moving average price is $84.27 and its 200 day moving average price is $81.11. 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 capitalization of $31.70 billion, a P/E ratio of 24.01, a P/E/G ratio of 1.95 and a beta of 0.92. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the company posted $1.38 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 4.04%. The ex-dividend date is Tuesday, January 7th. Edison International’s payout ratio is 91.50%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on EIX shares. Bank of America initiated coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Barclays boosted their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley decreased their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average price target of $88.75.

About Edison International

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.