Mitchell & Pahl Private Wealth LLC Has $249,000 Holdings in Edison International (NYSE:EIX)

Mitchell & Pahl Private Wealth LLC lessened its holdings in Edison International (NYSE:EIX) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,122 shares of the utilities provider’s stock after selling 412 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Edison International were worth $249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EIX. FMR LLC lifted its stake in shares of Edison International by 8.7% in 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 during the last quarter. abrdn plc raised its holdings in Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after acquiring an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Edison International by 117.8% in 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 acquiring an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings 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 worth $22,884,000 after acquiring an additional 272,876 shares during the period. Finally, State Street Corp raised its holdings in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE EIX opened at $62.24 on Wednesday. The stock has a market cap of $24.10 billion, a P/E ratio of 18.25, a PEG ratio of 1.29 and a beta of 0.93. The company’s 50-day simple moving average is $79.08 and its 200 day simple moving average is $81.35. Edison International has a twelve month low of $55.27 and a twelve month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last posted its earnings results 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. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 earnings per share. As a group, research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.32%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio is currently 97.07%.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EIX. Royal Bank of Canada lifted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Barclays dropped their target price on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. 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 report on Friday, November 22nd. UBS Group dropped their price objective 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, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $83.58.

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.