Drucker Wealth 3.0 LLC Sells 8,505 Shares of Edison International (NYSE:EIX)

Drucker Wealth 3.0 LLC lessened its holdings in Edison International (NYSE:EIX) by 15.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 47,174 shares of the utilities provider’s stock after selling 8,505 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Edison International were worth $3,766,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Jamison Private Wealth Management Inc. increased its stake in Edison International by 2.6% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock worth $550,000 after buying an additional 174 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Edison International by 2.9% in the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after buying an additional 176 shares in the last quarter. Whittier Trust Co. increased its stake in Edison International by 4.9% in the 4th quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider’s stock worth $343,000 after buying an additional 200 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Edison International by 5.0% in the 4th quarter. Vontobel Holding Ltd. now owns 4,579 shares of the utilities provider’s stock worth $366,000 after buying an additional 216 shares in the last quarter. Finally, FSB Premier Wealth Management Inc. increased its stake in Edison International by 5.2% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider’s stock worth $352,000 after buying an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley set a $52.00 price target on Edison International and gave the stock an “underweight” rating in a research note on Thursday. Wells Fargo & Company cut their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Barclays raised their price objective on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.89.

Edison International Trading Up 0.7%

EIX opened at $56.62 on Friday. The firm has a market cap of $21.78 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.07 and a beta of 0.77. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a 50-day moving average of $56.81 and a 200 day moving average of $64.46.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. As a group, research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were given a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.85%. Edison International’s dividend payout ratio is currently 46.95%.

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.