Douglass Winthrop Advisors LLC Sells 1,742 Shares of Edison International (EIX)

Douglass Winthrop Advisors LLC cut its stake in shares of Edison International (NYSE:EIX) by 24.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,500 shares of the utilities provider’s stock after selling 1,742 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Edison International were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EIX. Bank of Montreal Can lifted its holdings in shares of Edison International by 14.6% during the fourth quarter. Bank of Montreal Can now owns 538,843 shares of the utilities provider’s stock worth $34,077,000 after purchasing an additional 68,459 shares during the period. National Pension Service lifted its holdings in shares of Edison International by 4.2% during the fourth quarter. National Pension Service now owns 310,925 shares of the utilities provider’s stock worth $19,663,000 after purchasing an additional 12,644 shares during the period. Creative Planning lifted its holdings in shares of Edison International by 25.0% during the fourth quarter. Creative Planning now owns 23,913 shares of the utilities provider’s stock worth $1,512,000 after purchasing an additional 4,785 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Edison International by 2.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,155,073 shares of the utilities provider’s stock worth $73,047,000 after purchasing an additional 30,504 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Edison International by 41.4% during the fourth quarter. State of Alaska Department of Revenue now owns 71,865 shares of the utilities provider’s stock worth $4,542,000 after purchasing an additional 21,050 shares during the period. 85.08% of the stock is owned by hedge funds and other institutional investors.

EIX has been the subject of several recent research reports. Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating in a report on Friday, January 19th. JPMorgan Chase increased their price target on Edison International from $64.00 to $66.00 and gave the stock a “hold” rating in a report on Tuesday, April 10th. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. ValuEngine downgraded Edison International from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, SunTrust Banks set a $71.00 price target on Edison International and gave the stock a “buy” rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Edison International currently has a consensus rating of “Hold” and a consensus target price of $76.92.

Edison International opened at $61.22 on Friday, Marketbeat reports. Edison International has a one year low of $61.31 and a one year high of $61.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.59. The firm has a market capitalization of $20.01 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.64 and a beta of 0.12.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, May 1st. The utilities provider reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). Edison International had a net margin of 4.38% and a return on equity of 10.22%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business posted $0.85 EPS. Edison International’s revenue was up 4.1% compared to the same quarter last year. analysts predict that Edison International will post 4.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Thursday, March 29th were given a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Wednesday, March 28th. Edison International’s dividend payout ratio is currently 53.78%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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