Stonegate Investment Group LLC Cuts Position in Edison International (NYSE:EIX)

Stonegate Investment Group LLC lowered its position in shares of Edison International (NYSE:EIX) by 10.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,290 shares of the utilities provider’s stock after selling 396 shares during the quarter. Stonegate Investment Group LLC’s holdings in Edison International were worth $263,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EIX. Hennion & Walsh Asset Management Inc. purchased a new stake in Edison International during the fourth quarter worth approximately $235,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Edison International during the 3rd quarter worth $1,387,000. Sound Income Strategies LLC increased its holdings in Edison International by 5.9% in the 4th quarter. Sound Income Strategies LLC now owns 195,788 shares of the utilities provider’s stock valued at $15,632,000 after purchasing an additional 10,863 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its position in Edison International by 6.6% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 80,908 shares of the utilities provider’s stock valued at $6,460,000 after purchasing an additional 5,011 shares during the period. Finally, Ameritas Advisory Services LLC raised its position in Edison International by 54.7% in the fourth quarter. Ameritas Advisory Services LLC now owns 27,200 shares of the utilities provider’s stock valued at $2,172,000 after purchasing an additional 9,612 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

EIX has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. UBS Group dropped their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Royal Bank of Canada upped their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Barclays dropped their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were 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 is available at the SEC website. Company insiders own 1.03% of the company’s stock.

Edison International Trading Down 3.0 %

Shares of NYSE EIX opened at $56.02 on Wednesday. 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 stock’s 50 day moving average price is $76.66 and its two-hundred day moving average price is $80.87. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77. The stock has a market capitalization of $21.69 billion, a P/E ratio of 16.43, a PEG ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. The business 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 business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. On average, analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 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.