Atria Wealth Solutions Inc. Sells 1,001 Shares of Edison International (NYSE:EIX)

Atria Wealth Solutions Inc. lowered its stake in Edison International (NYSE:EIX) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,641 shares of the utilities provider’s stock after selling 1,001 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Edison International were worth $863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in EIX. Oppenheimer & Co. Inc. raised its holdings in shares of Edison International by 98.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider’s stock valued at $647,000 after buying an additional 5,454 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new position in shares of Edison International during the 1st quarter valued at about $1,151,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Edison International by 135.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider’s stock valued at $7,297,000 after buying an additional 71,159 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Edison International by 4,157.4% during the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock valued at $8,554,000 after buying an additional 141,769 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Edison International by 17.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider’s stock valued at $6,324,000 after buying an additional 15,718 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of a number of analyst reports. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. Wolfe Research cut Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Morgan Stanley decreased their price target on Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 18th. Barclays lifted their price target on Edison International from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. decreased their price target on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Edison International has an average rating of “Moderate Buy” and an average target price of $76.19.

Edison International Stock Performance

Shares of EIX opened at $55.28 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The business has a 50-day simple moving average of $51.79 and a two-hundred day simple moving average of $54.21. The stock has a market cap of $21.27 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 1.26 and a beta of 0.75. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a $0.8275 dividend. The ex-dividend date was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. Edison International’s dividend payout ratio is presently 48.60%.

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.