Edison International (NYSE:EIX) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. cut its position in shares of Edison International (NYSE:EIX) by 32.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,217 shares of the utilities provider’s stock after selling 5,410 shares during the quarter. Everence Capital Management Inc.’s holdings in Edison International were worth $896,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC increased its position in shares of Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC grew its stake in Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel increased its holdings in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 130 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. Finally, Asset Dedication LLC lifted its holdings in shares of Edison International by 37.5% in the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 150 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Edison International Stock Down 0.3 %

Shares of NYSE EIX opened at $79.80 on Friday. The stock has a fifty day moving average price of $82.76 and a 200 day moving average price of $81.68. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a market cap of $30.89 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.96 and a beta of 0.93.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion during 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 company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 earnings per share. Research analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This is a boost 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 4.15%. The ex-dividend date is Tuesday, January 7th. Edison International’s payout ratio is presently 97.07%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EIX shares. Argus raised their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Royal Bank of Canada upped their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Barclays upgraded Edison International from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $91.00 to $84.00 in a research report on Thursday. Finally, Jefferies Financial Group started 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.