Edison International (NYSE:EIX) Shares Sold by Cypress Wealth Services LLC

Cypress Wealth Services LLC decreased its holdings in Edison International (NYSE:EIX) by 37.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,377 shares of the utilities provider’s stock after selling 2,672 shares during the quarter. Cypress Wealth Services LLC’s holdings in Edison International were worth $349,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its stake in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. abrdn plc raised its position in Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after buying an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after buying an additional 272,876 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Edison International during the second quarter worth approximately $18,484,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX opened at $62.72 on Friday. The company’s 50 day simple moving average is $79.91 and its 200-day simple moving average is $81.34. The firm has a market cap of $24.28 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. 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 (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the firm posted $1.38 EPS. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Edison International will post 4.94 EPS for the current 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 paid 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 5.28%. Edison International’s dividend payout ratio is currently 97.07%.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays dropped their target price on Edison International from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. LADENBURG THALM/SH SH raised 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. Finally, Royal Bank of Canada raised their target price 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.58.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Edison International Company 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.