Northwest & Ethical Investments L.P. Lowers Stake in Edison International (NYSE:EIX)

Northwest & Ethical Investments L.P. cut its holdings in Edison International (NYSE:EIX) by 29.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,373 shares of the utilities provider’s stock after selling 35,873 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Edison International were worth $6,816,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in EIX. Swedbank AB raised its stake in Edison International by 3.3% during the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after acquiring an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Edison International in the fourth quarter valued at approximately $235,000. KBC Group NV raised its stake in shares of Edison International by 23.7% during 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 during the last quarter. abrdn plc lifted its holdings 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 worth $134,335,000 after purchasing an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted 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. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Barclays reduced their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Mizuho dropped their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Stock Performance

Shares of EIX opened at $58.92 on Friday. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The stock has a market cap of $22.68 billion, a P/E ratio of 17.28, a PEG ratio of 1.07 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average of $55.37 and a two-hundred day moving average of $73.80.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Edison International Company 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.