Kestra Private Wealth Services LLC Sells 2,891 Shares of Edison International (NYSE:EIX)

Kestra Private Wealth Services LLC trimmed its position in shares of Edison International (NYSE:EIXGet Rating) by 27.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,825 shares of the utilities provider’s stock after selling 2,891 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Edison International were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. Private Advisor Group LLC increased its position in shares of Edison International by 6.9% during the 4th quarter. Private Advisor Group LLC now owns 14,137 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 918 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Edison International by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,944,389 shares of the utilities provider’s stock valued at $132,705,000 after acquiring an additional 69,960 shares during the last quarter. Geode Capital Management LLC grew its position in Edison International by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 6,850,574 shares of the utilities provider’s stock valued at $466,276,000 after acquiring an additional 203,745 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Edison International by 13.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 64,426 shares of the utilities provider’s stock worth $4,396,000 after buying an additional 7,561 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in shares of Edison International by 4.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 41,010 shares of the utilities provider’s stock worth $2,799,000 after buying an additional 1,904 shares in the last quarter. 87.21% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

EIX opened at $68.37 on Tuesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.61 and a quick ratio of 0.56. The firm has a fifty day moving average price of $67.16 and a 200 day moving average price of $67.15. Edison International has a 1 year low of $54.98 and a 1 year high of $73.32. The stock has a market cap of $26.08 billion, a P/E ratio of 51.15, a P/E/G ratio of 5.13 and a beta of 0.67.

Edison International (NYSE:EIXGet Rating) last posted its earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. Edison International had a net margin of 3.63% and a return on equity of 12.42%. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Equities research analysts anticipate that Edison International will post 4.43 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Thursday, September 29th. Edison International’s dividend payout ratio is presently 212.12%.

Analyst Ratings Changes

EIX has been the subject of a number of analyst reports. Barclays decreased their price objective on Edison International from $73.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Evercore ISI decreased their price target on Edison International to $71.00 in a research note on Tuesday, August 9th. Bank of America reiterated an “underperform” rating on shares of Edison International in a research note on Thursday, July 14th. Morgan Stanley cut Edison International from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $69.00 to $62.00 in a research note on Tuesday, September 6th. Finally, UBS Group decreased their price target on Edison International from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $72.44.

About Edison International

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Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

Further Reading

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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