Duff & Phelps Investment Management Co. Sells 243,143 Shares of Edison International (NYSE:EIX)

Duff & Phelps Investment Management Co. trimmed its holdings in Edison International (NYSE:EIX) by 59.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,600 shares of the utilities provider’s stock after selling 243,143 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Edison International were worth $13,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of EIX. Swedbank AB increased its position in shares of Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after acquiring an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Edison International in the 4th quarter worth $235,000. KBC Group NV increased its holdings in Edison International by 23.7% during the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after purchasing an additional 11,764 shares in the last quarter. abrdn plc raised its stake in shares of Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after purchasing an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after purchasing an additional 76,654 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EIX shares. The Goldman Sachs Group decreased their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Barclays cut their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company cut their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley increased their price target on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Down 0.8 %

Edison International stock opened at $57.33 on Friday. The company’s 50-day moving average price is $55.09 and its two-hundred day moving average price is $72.78. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $22.07 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.77%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.