EP Wealth Advisors LLC Reduces Stock Holdings in Edison International (NYSE:EIX)

EP Wealth Advisors LLC reduced its position in Edison International (NYSE:EIX) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,728 shares of the utilities provider’s stock after selling 2,492 shares during the quarter. EP Wealth Advisors LLC’s holdings in Edison International were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB increased its holdings in Edison International by 3.3% in the 4th 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 during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Edison International during the fourth quarter worth about $235,000. KBC Group NV increased its stake in shares of Edison International by 23.7% in the fourth 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 position in shares of Edison International by 19.5% in the fourth 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 stake in shares of Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after buying an additional 76,654 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EIX. Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Barclays raised their target price on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Morgan Stanley reiterated an “overweight” rating on shares of Edison International in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.96.

Edison International Stock Up 0.1 %

Shares of NYSE:EIX opened at $56.20 on Friday. The firm has a market capitalization of $21.62 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. 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 has a 52-week low of $49.06 and a 52-week high of $88.77. The firm has a fifty day moving average of $56.70 and a 200 day moving average of $66.26.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS. As a group, 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 Wednesday, April 30th. Shareholders of record on Monday, April 7th were paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend was Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 46.95%.

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.