Kwmg LLC Decreases Position in Edison International (NYSE:EIX)

Kwmg LLC lessened its stake in Edison International (NYSE:EIX) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,059 shares of the utilities provider’s stock after selling 341 shares during the quarter. Kwmg LLC’s holdings in Edison International were worth $6,472,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the third quarter valued at $26,000. Groupama Asset Managment increased its holdings in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Edison International in the 2nd quarter valued at about $27,000. Eastern Bank purchased a new stake in Edison International during the third quarter valued at about $27,000. Finally, Larson Financial Group LLC boosted its position in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX traded down $7.91 during mid-day trading on Monday, reaching $57.09. 15,765,252 shares of the company were exchanged, compared to its average volume of 6,711,236. The stock has a market capitalization of $22.10 billion, a PE ratio of 16.74, a PEG ratio of 1.96 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77. The company’s 50 day moving average price is $81.66 and its 200 day moving average price is $81.82.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $1.38 EPS. 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. Stockholders of record on Tuesday, January 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.80%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is presently 97.07%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Barclays cut their target price on Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, UBS Group cut their price objective 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 research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

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.