Foster & Motley Inc. Trims Stake in Edison International (NYSE:EIX)

Foster & Motley Inc. cut its position in shares of Edison International (NYSE:EIX) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 91,691 shares of the utilities provider’s stock after selling 514 shares during the quarter. Foster & Motley Inc.’s holdings in Edison International were worth $7,321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. State Street Corp grew its holdings in Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after purchasing an additional 224,337 shares during the period. FMR LLC grew its stake in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. Geode Capital Management LLC increased its holdings in Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after acquiring an additional 210,461 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after purchasing an additional 28,240 shares in the last quarter. Finally, abrdn plc grew its position in shares of Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EIX. Barclays lowered their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley reduced their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, UBS Group lowered their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average price target of $82.88.

Edison International Stock Performance

NYSE:EIX opened at $55.79 on Thursday. The company’s 50-day moving average is $76.07 and its two-hundred day moving average is $80.73. Edison International has a 1-year low of $55.27 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. Analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

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.