National Bank of Canada FI Sells 17,477 Shares of Edison International (NYSE:EIX)

National Bank of Canada FI trimmed its holdings in shares of Edison International (NYSE:EIX) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,190 shares of the utilities provider’s stock after selling 17,477 shares during the quarter. National Bank of Canada FI’s holdings in Edison International were worth $7,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EIX. Sapient Capital LLC purchased a new position in shares of Edison International during the fourth quarter valued at $217,000. Axxcess Wealth Management LLC increased its stake in shares of Edison International by 3.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 6,681 shares of the utilities provider’s stock valued at $478,000 after buying an additional 220 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Edison International during the fourth quarter valued at $1,945,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Edison International by 258.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 11,001 shares of the utilities provider’s stock valued at $786,000 after buying an additional 7,932 shares during the period. Finally, First Trust Direct Indexing L.P. increased 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 valued at $512,000 after buying an additional 560 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EIX shares. Barclays raised their price target on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada cut their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and lifted their target price for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. Finally, Mizuho cut their target price on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Edison International has a consensus rating of “Hold” and an average price target of $72.78.

Edison International Trading Up 1.2 %

Edison International stock opened at $74.76 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $58.82 and a 52 week high of $74.88. The company has a market capitalization of $28.76 billion, a price-to-earnings ratio of 32.79 and a beta of 0.95. The stock has a 50-day moving average price of $69.79 and a 200 day moving average price of $68.14.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company 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. Edison International’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Wednesday, March 27th. Edison International’s payout ratio is presently 136.84%.

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.