Duff & Phelps Investment Management Co. Has $35.42 Million Stock Position in Edison International (NYSE:EIX)

Duff & Phelps Investment Management Co. lessened its holdings in shares of Edison International (NYSE:EIX - Free Report) by 17.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 406,743 shares of the utilities provider's stock after selling 87,454 shares during the period. Duff & Phelps Investment Management Co. owned about 0.11% of Edison International worth $35,423,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in EIX. Barclays PLC grew its position in Edison International by 16.9% during the third quarter. Barclays PLC now owns 918,489 shares of the utilities provider's stock worth $79,991,000 after buying an additional 132,749 shares in the last quarter. Drucker Wealth 3.0 LLC lifted its position in shares of Edison International by 1.5% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 55,679 shares of the utilities provider's stock valued at $4,849,000 after acquiring an additional 849 shares during the period. Groupama Asset Managment grew its holdings in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Edison International by 0.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 131,489 shares of the utilities provider's stock worth $11,451,000 after purchasing an additional 849 shares during the period. Finally, Zacks Investment Management acquired a new position in Edison International in the third quarter valued at about $4,673,000. 88.95% of the stock is owned by institutional investors.

Edison International Trading Down 1.1 %

Shares of Edison International stock traded down $0.90 during trading on Monday, hitting $83.05. The company's stock had a trading volume of 1,718,741 shares, compared to its average volume of 2,034,803. The stock has a market cap of $32.15 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The stock has a 50-day moving average price of $84.75 and a two-hundred day moving average price of $80.93. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business's revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 EPS. Equities research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.76%. Edison International's payout ratio is currently 91.50%.

Wall Street Analyst Weigh In

Several equities analysts have commented on EIX shares. Argus raised their target price on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Royal Bank of Canada boosted their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Morgan Stanley reduced their target price on Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Finally, Barclays upped their price objective on Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.75.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company's stock.

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.