Swiss National Bank Trims Stake in Edison International (NYSE:EIX)

Swiss National Bank lowered its position in Edison International (NYSE:EIX) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,198,500 shares of the utilities provider’s stock after selling 33,400 shares during the period. Swiss National Bank owned approximately 0.31% of Edison International worth $85,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of EIX. First Trust Direct Indexing L.P. boosted its holdings in Edison International by 2.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock valued at $418,000 after acquiring an additional 162 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Edison International by 2.6% during the third quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 164 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Edison International by 3.9% during the third quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 165 shares during the period. Gibraltar Capital Management Inc. grew its holdings in shares of Edison International by 1.5% in the fourth quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock worth $829,000 after purchasing an additional 174 shares during the last quarter. Finally, Greenleaf Trust increased its stake in Edison International by 2.9% in the 3rd quarter. Greenleaf Trust now owns 6,481 shares of the utilities provider’s stock worth $410,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.5 %

EIX opened at $72.34 on Friday. Edison International has a 12 month low of $58.82 and a 12 month high of $74.40. The stock has a fifty day moving average price of $69.41 and a 200-day moving average price of $67.93. The firm has a market cap of $27.83 billion, a price-to-earnings ratio of 31.73 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.78 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.31%. Edison International’s dividend payout ratio (DPR) is 136.84%.

Analyst Ratings Changes

Several research firms have issued reports on EIX. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Barclays raised their price objective on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday. Royal Bank of Canada lowered their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Edison International currently has an average rating of “Hold” and an average price target of $72.78.

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.