Janney Montgomery Scott LLC Increases Stock Holdings in Edison International (NYSE:EIX)

Janney Montgomery Scott LLC raised its holdings in Edison International (NYSE:EIXFree Report) by 0.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 91,614 shares of the utilities provider’s stock after acquiring an additional 682 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Edison International were worth $7,315,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Edison International by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 230,755 shares of the utilities provider’s stock worth $16,571,000 after buying an additional 23,135 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Edison International by 8.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock worth $727,000 after acquiring an additional 816 shares during the period. EP Wealth Advisors LLC lifted its position in Edison International by 9.5% during the 2nd quarter. EP Wealth Advisors LLC now owns 10,851 shares of the utilities provider’s stock worth $779,000 after acquiring an additional 937 shares during the period. Cetera Investment Advisers grew its stake in Edison International by 0.5% during the 2nd quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock valued at $7,565,000 after purchasing an additional 540 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE EIX opened at $56.02 on Wednesday. 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 twelve month low of $55.27 and a twelve month high of $88.77. The stock has a 50-day moving average of $76.66 and a 200 day moving average of $80.87. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.20 and a beta of 0.93.

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

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.91%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of a number of recent research reports. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group cut 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. Barclays decreased their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Check Out Our Latest Analysis on Edison International

About Edison International

(Free Report)

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.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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