First Horizon Advisors Inc. Sells 179 Shares of Edison International (NYSE:EIX)

First Horizon Advisors Inc. cut its position in shares of Edison International (NYSE:EIX) by 27.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477 shares of the utilities provider’s stock after selling 179 shares during the quarter. First Horizon Advisors Inc.’s holdings in Edison International were worth $34,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. raised its stake in shares of Edison International by 8.5% during the fourth quarter. First Trust Direct Indexing L.P. now owns 7,164 shares of the utilities provider’s stock worth $512,000 after acquiring an additional 560 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in Edison International by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 61,958 shares of the utilities provider’s stock valued at $4,429,000 after acquiring an additional 225 shares in the last quarter. Victory Capital Management Inc. increased its position in Edison International by 27.4% during the 4th quarter. Victory Capital Management Inc. now owns 600,168 shares of the utilities provider’s stock valued at $42,906,000 after purchasing an additional 129,101 shares during the period. Gibraltar Capital Management Inc. increased its position in Edison International by 1.5% during the 4th quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock valued at $829,000 after purchasing an additional 174 shares during the period. Finally, Mission Wealth Management LP raised its holdings in Edison International by 37.4% in the 4th quarter. Mission Wealth Management LP now owns 8,492 shares of the utilities provider’s stock worth $607,000 after purchasing an additional 2,310 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Down 0.1 %

NYSE EIX opened at $73.85 on Thursday. The stock’s fifty day moving average price is $69.67 and its 200-day moving average price is $68.10. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The stock has a market cap of $28.41 billion, a P/E ratio of 32.39 and a beta of 0.95. Edison International has a 12 month low of $58.82 and a 12 month high of $74.40.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share 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 company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.78 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.12 annualized dividend and a dividend yield of 4.22%. Edison International’s payout ratio is 136.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EIX shares. The Goldman Sachs Group started coverage on shares of Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. TheStreet downgraded Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Royal Bank of Canada decreased their target price 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. Barclays lifted their price target on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.78.

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.