Flagship Harbor Advisors LLC Sells 400 Shares of Edison International (NYSE:EIX)

Flagship Harbor Advisors LLC decreased its position in shares of Edison International (NYSE:EIX) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,382 shares of the utilities provider’s stock after selling 400 shares during the period. Flagship Harbor Advisors LLC’s holdings in Edison International were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position 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 valued at $16,571,000 after buying an additional 23,135 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Edison International by 8.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock worth $727,000 after buying an additional 816 shares during the period. EP Wealth Advisors LLC increased its stake in Edison International by 9.5% in the 2nd quarter. EP Wealth Advisors LLC now owns 10,851 shares of the utilities provider’s stock worth $779,000 after buying an additional 937 shares during the period. Cetera Investment Advisers lifted its holdings 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 buying an additional 540 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after buying an additional 24,834 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company upped their target price on 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 initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. UBS Group dropped their target price on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.88.

Edison International Stock Down 3.0 %

Edison International stock opened at $56.02 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. 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. The business has a fifty day moving average price of $76.66 and a 200-day moving average price of $80.87. Edison International has a 1-year low of $55.27 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating 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 period in the previous year, the company earned $1.38 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

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

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

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.