Douglas Lane & Associates LLC Lowers Position in Edison International (NYSE:EIX)

Douglas Lane & Associates LLC decreased its holdings in shares of Edison International (NYSE:EIX) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 482,898 shares of the utilities provider’s stock after selling 50,079 shares during the period. Douglas Lane & Associates LLC owned approximately 0.12% of Edison International worth $38,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EIX. FMR LLC raised its position in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. abrdn plc grew its position in Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after acquiring an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Edison International by 117.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after acquiring an additional 422,752 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after purchasing an additional 272,876 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Edison International during the second quarter valued at about $18,484,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Down 13.2 %

Shares of NYSE:EIX traded down $10.21 on Wednesday, hitting $67.17. 7,488,803 shares of the company traded hands, compared to its average volume of 2,974,260. The stock has a 50 day simple moving average of $82.52 and a 200-day simple moving average of $81.91. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market cap of $26.00 billion, a PE ratio of 19.70, a PEG ratio of 1.96 and a beta of 0.93. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77.

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

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be issued a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.93%. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EIX. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley dropped their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Finally, UBS Group dropped their price target on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

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.