Kwmg LLC Sells 341 Shares of Edison International (NYSE:EIX)

Kwmg LLC reduced its holdings in Edison International (NYSE:EIX) by 0.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 81,059 shares of the utilities provider’s stock after selling 341 shares during the quarter. Kwmg LLC’s holdings in Edison International were worth $6,472,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its holdings in Edison International by 0.7% in the third 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 in the last quarter. FMR LLC boosted its stake 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 purchasing an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC raised its stake in Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after buying an additional 210,461 shares in the last quarter. Clearbridge Investments LLC boosted its position in 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 acquiring an additional 24,834 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Edison International by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after acquiring an additional 28,240 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group dropped 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. Barclays decreased their price target on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday. Morgan Stanley dropped their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Edison International Stock Performance

Shares of EIX traded down $7.91 during mid-day trading on Monday, hitting $57.09. 15,765,252 shares of the company traded hands, compared to its average volume of 6,711,236. The stock has a market cap of $22.10 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.96 and a beta of 0.93. The stock has a 50-day moving average price of $81.66 and a two-hundred day moving average price of $81.82. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77. 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 (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. Equities analysts anticipate that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a $0.8275 dividend. This is an increase 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 5.80%. The ex-dividend date is Tuesday, January 7th. Edison International’s payout ratio is currently 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.