Edison International $EIX Stock: Brighton Jones LLC Lowers Holdings

Brighton Jones LLC reduced its position in shares of Edison International (NYSE:EIX) by 48.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 46,766 shares of the utilities provider’s stock after selling 44,110 shares during the quarter. Brighton Jones LLC’s holdings in Edison International were worth $2,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Edmond DE Rothschild Holding S.A. bought a new position in shares of Edison International in the 2nd quarter valued at about $26,000. Provenance Wealth Advisors LLC acquired a new position in shares of Edison International during the 3rd quarter worth about $27,000. Groupe la Francaise acquired a new position in shares of Edison International during the 1st quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Edison International in the 2nd quarter valued at about $30,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of Edison International in the 2nd quarter valued at about $31,000. 88.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Edison International news, Director Peter Taylor sold 500 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $55.56, for a total value of $27,780.00. Following the transaction, the director directly owned 33,212 shares of the company’s stock, valued at $1,845,258.72. This represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by corporate insiders.

Edison International Price Performance

NYSE:EIX opened at $60.20 on Tuesday. Edison International has a one year low of $51.10 and a one year high of $81.62. The company has a market cap of $23.16 billion, a P/E ratio of 6.40, a P/E/G ratio of 2.60 and a beta of 0.56. The firm’s fifty day moving average price is $56.22 and its two-hundred day moving average price is $67.70. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.77 and a quick ratio of 0.71.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.11. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.34 billion. Edison International had a net margin of 20.50% and a return on equity of 14.17%. The company’s revenue was down 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 earnings per share. Equities analysts expect that Edison International will post 6.13 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Wednesday, October 7th were paid a $0.8775 dividend. The ex-dividend date was Wednesday, October 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. Edison International’s dividend payout ratio is 37.30%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EIX shares. Truist Financial cut their target price on shares of Edison International from $63.00 to $62.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Argus downgraded Edison International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. dropped their price objective on Edison International from $61.00 to $59.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Bank of America lowered Edison International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $81.00 to $51.00 in a research note on Tuesday, September 1st. Finally, Wells Fargo & Company cut their price objective on Edison International from $62.00 to $59.00 and set an “underweight” rating for the company in a research report on Friday, October 30th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $60.58.

Edison International Company Profile

Edison International is a holding company focused on electric power generation and delivery. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that serves homes and businesses across much of central and Southern California.

SCE operates and maintains the electric grid, including transmission and distribution infrastructure, and works to support the region’s shift to cleaner energy. Edison International also provides energy advisory and management services through its Edison Energy business.

The company traces its roots to the late 19th century and has a long history of serving California’s electricity needs.