EP Wealth Advisors LLC Sells 2,492 Shares of Edison International (NYSE:EIX)

EP Wealth Advisors LLC reduced its stake in Edison International (NYSE:EIX) by 13.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,728 shares of the utilities provider’s stock after selling 2,492 shares during the period. EP Wealth Advisors LLC’s holdings in Edison International were worth $1,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EIX. Swedbank AB increased its stake in shares of Edison International by 3.3% in the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after buying an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Edison International in the 4th quarter worth $235,000. KBC Group NV increased its position 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 valued at $4,898,000 after acquiring an additional 11,764 shares during the period. abrdn plc raised its stake in shares of Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after acquiring an additional 276,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Edison International by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after purchasing an additional 76,654 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

EIX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Edison International in a research note on Wednesday, April 23rd. The Goldman Sachs Group reduced their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average price target of $76.96.

Edison International Price Performance

EIX stock opened at $56.20 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a 50 day moving average price of $56.70 and a 200-day moving average price of $66.26. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.89%. Edison International’s dividend payout ratio is currently 46.95%.

About Edison International

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.