Procyon Advisors LLC Sells 480 Shares of Edison International (NYSE:EIX)

Procyon Advisors LLC lessened its position in Edison International (NYSE:EIX) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,742 shares of the utilities provider’s stock after selling 480 shares during the period. Procyon Advisors LLC’s holdings in Edison International were worth $1,656,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of EIX. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter valued at $26,000. Groupama Asset Managment grew its stake in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the period. Eastern Bank bought a new stake in shares of Edison International in the third quarter worth about $27,000. Larson Financial Group LLC raised its position in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in shares of Edison International during the 3rd quarter valued at about $32,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of NYSE EIX opened at $62.72 on Friday. The stock has a market capitalization of $24.28 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77. The stock has a 50 day moving average price of $79.91 and a 200 day moving average price of $81.34. 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 released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion during 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 firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 EPS. Analysts predict 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. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 5.28%. Edison International’s payout ratio is currently 97.07%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group lowered their target price on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday. Royal Bank of Canada raised their price objective 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. Wells Fargo & Company boosted their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays dropped their price target on Edison International from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Morgan Stanley reduced their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.58.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

About Edison International

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.