Edison International (NYSE:EIX) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC lowered its position in Edison International (NYSE:EIX) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,564 shares of the utilities provider’s stock after selling 215 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Edison International were worth $364,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new position in Edison International in the 3rd quarter valued at about $26,000. Groupama Asset Managment boosted its stake in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International during the second quarter worth about $27,000. Eastern Bank acquired a new position in shares of Edison International in the third quarter valued at approximately $27,000. Finally, Larson Financial Group LLC lifted its stake in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group cut their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Barclays upgraded Edison International from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $91.00 to $84.00 in a research note on Thursday, January 2nd. Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price objective 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, 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 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Edison International Stock Performance

Shares of NYSE:EIX opened at $65.00 on Friday. The company has a market cap of $25.16 billion, a P/E ratio of 19.06, a PEG ratio of 1.96 and a beta of 0.93. Edison International has a one year low of $63.15 and a one year high of $88.77. The business’s 50-day simple moving average is $81.66 and its 200 day simple moving average is $81.68. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, January 7th. 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 5.09%. Edison International’s payout ratio is currently 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.