Procyon Advisors LLC Sells 480 Shares of Edison International (NYSE:EIX)

Procyon Advisors LLC decreased its stake in shares of Edison International (NYSE:EIX) by 2.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,742 shares of the utilities provider’s stock after selling 480 shares during the period. Procyon Advisors LLC’s holdings in Edison International were worth $1,656,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares during the last quarter. abrdn plc increased its stake in shares of Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Edison International by 595.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after purchasing an additional 272,876 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Edison International in the 2nd quarter valued at $18,484,000. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EIX shares. Barclays dropped their target price on Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, January 13th. UBS Group dropped their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company increased their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average target price of $83.58.

Insider Buying and Selling at Edison International

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 is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Edison International Trading Up 2.6 %

Shares of EIX stock opened at $62.72 on Friday. 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 has a fifty-two week low of $55.27 and a fifty-two week high of $88.77. The company has a market cap of $24.28 billion, a PE ratio of 18.39, a P/E/G ratio of 1.34 and a beta of 0.93. The stock’s fifty day moving average price is $79.91 and its two-hundred day moving average price is $81.34.

Edison International (NYSE:EIX) last released 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 firm had revenue of $5.20 billion for 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 business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 earnings per share. Equities analysts predict 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. Investors of record on Tuesday, January 7th will be paid a $0.8275 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 5.28%. Edison International’s dividend payout ratio is presently 97.07%.

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.