Baker Tilly Wealth Management LLC Decreases Stake in Edison International (NYSE:EIX)

Baker Tilly Wealth Management LLC lessened its holdings in shares of Edison International (NYSE:EIX) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,564 shares of the utilities provider’s stock after selling 215 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Edison International were worth $364,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EIX shares. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. UBS Group reduced their price objective 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. Barclays raised Edison International from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $91.00 to $84.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of 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, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Activity at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Edison International Stock Down 6.5 %

Shares of NYSE:EIX opened at $65.00 on Friday. 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 cap of $25.16 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.96 and a beta of 0.93. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The firm has a fifty day moving average price of $81.66 and a 200 day moving average price of $81.68.

Edison International (NYSE:EIX) last released its quarterly earnings results 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 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%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $1.38 earnings per share. Sell-side analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The business 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 dividend of $0.8275 per share. The ex-dividend date 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 dividend yield of 5.09%. Edison International’s dividend payout ratio (DPR) 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.