Bfsg LLC Reduces Stock Holdings in Edison International (NYSE:EIX)

Bfsg LLC trimmed its holdings in shares of Edison International (NYSE:EIX) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,570 shares of the utilities provider’s stock after selling 417 shares during the quarter. Bfsg LLC’s holdings in Edison International were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Pzena Investment Management LLC lifted its holdings in shares of Edison International by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider’s stock valued at $842,826,000 after buying an additional 197,259 shares during the period. Wellington Management Group LLP raised its holdings in Edison International by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock worth $622,911,000 after purchasing an additional 317,297 shares during the period. Clearbridge Investments LLC raised its holdings in Edison International by 8.9% in the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock worth $432,318,000 after purchasing an additional 558,351 shares during the period. Legal & General Group Plc raised its holdings in Edison International by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 5,590,765 shares of the utilities provider’s stock worth $353,840,000 after purchasing an additional 108,138 shares during the period. Finally, Northern Trust Corp raised its holdings in Edison International by 3.9% in the 3rd quarter. Northern Trust Corp now owns 4,428,725 shares of the utilities provider’s stock worth $280,294,000 after purchasing an additional 165,734 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. TheStreet cut Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Mizuho cut their target price on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price for the company. Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Finally, Barclays raised their price target on Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus target price of $73.60.

Edison International Stock Performance

EIX stock traded down $0.03 during trading on Wednesday, hitting $70.82. The company had a trading volume of 3,702,492 shares, compared to its average volume of 2,179,318. The firm has a market cap of $27.24 billion, a PE ratio of 22.70 and a beta of 0.96. Edison International has a 1-year low of $58.82 and a 1-year high of $74.92. The firm has a 50-day moving average price of $68.70 and a 200-day moving average price of $67.60. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. On average, analysts expect that Edison International will post 4.98 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is 100.00%.

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.