Douglas Lane & Associates LLC Trims Stock Position in Edison International (NYSE:EIX)

Douglas Lane & Associates LLC decreased its holdings in Edison International (NYSE:EIX) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 482,898 shares of the utilities provider’s stock after selling 50,079 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Edison International were worth $38,555,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after acquiring an additional 224,337 shares during the period. FMR LLC lifted its position in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Edison International by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after buying an additional 67,089 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EIX. Morgan Stanley lowered their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. UBS Group lowered their target price on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company raised their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. One investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Edison International Trading Down 13.2 %

EIX stock traded down $10.21 during midday trading on Wednesday, reaching $67.17. 7,488,803 shares of the company traded hands, compared to its average volume of 2,974,260. The firm has a market capitalization of $26.00 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.96 and a beta of 0.93. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The business has a 50 day moving average of $82.52 and a 200-day moving average of $81.91. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77.

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

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.93%. Edison International’s payout ratio is currently 97.07%.

About Edison International

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.