First Horizon Advisors Inc. Lowers Holdings in Edison International (NYSE:EIX)

First Horizon Advisors Inc. decreased its position in shares of Edison International (NYSE:EIX) by 27.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EIX. Ausbil Investment Management Ltd increased its position in Edison International by 54.7% during the 4th quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock valued at $9,658,000 after purchasing an additional 47,784 shares during the period. International Assets Investment Management LLC purchased a new position in Edison International during the fourth quarter valued at approximately $11,734,000. California Public Employees Retirement System raised its stake in Edison International by 62.1% in the fourth quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock worth $108,236,000 after buying an additional 580,117 shares in the last quarter. Metis Global Partners LLC raised its stake in Edison International by 1.5% in the third quarter. Metis Global Partners LLC now owns 56,588 shares of the utilities provider’s stock worth $3,581,000 after buying an additional 834 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Edison International by 1.3% during the fourth quarter. Mackenzie Financial Corp now owns 422,747 shares of the utilities provider’s stock worth $30,222,000 after buying an additional 5,220 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of analyst reports. The Goldman Sachs Group started coverage on Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Mizuho decreased their target price on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Finally, Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Edison International presently has an average rating of “Hold” and a consensus target price of $72.78.

Edison International Price Performance

NYSE EIX opened at $73.85 on Thursday. The company has a market cap of $28.41 billion, a price-to-earnings ratio of 32.39 and a beta of 0.95. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The stock’s fifty day moving average price is $69.67 and its 200 day moving average price is $68.10. Edison International has a 1 year low of $58.82 and a 1 year 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, 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 business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Edison International will post 4.92 earnings per share for the current year.

Edison International Dividend Announcement

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

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.