Brown Advisory Inc. Has $407,000 Stake in Edison International (NYSE:EIX)

Brown Advisory Inc. decreased its position in Edison International (NYSE:EIX) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,910 shares of the utilities provider’s stock after selling 1,108 shares during the quarter. Brown Advisory Inc.’s holdings in Edison International were worth $407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Edison International during the fourth quarter worth $323,443,000. Canada Pension Plan Investment Board grew its position in Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after acquiring an additional 2,643,571 shares in the last quarter. Northern Trust Corp lifted its holdings in Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after buying an additional 2,016,017 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Edison International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock valued at $223,057,000 after purchasing an additional 1,673,204 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Down 1.0%

NYSE EIX opened at $50.47 on Wednesday. The firm has a market cap of $19.42 billion, a P/E ratio of 7.16, a P/E/G ratio of 1.19 and a beta of 0.75. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The stock’s 50-day moving average is $53.21 and its 200-day moving average is $56.29. Edison International has a one year low of $47.73 and a one year high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period last year, the firm posted $1.13 EPS. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be issued a $0.8275 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.56%. Edison International’s dividend payout ratio is presently 46.95%.

Analyst Upgrades and Downgrades

EIX has been the topic of several analyst reports. Evercore ISI reiterated an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their price objective on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. Barclays upped their price objective on shares of Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Finally, Morgan Stanley reduced their price target on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.82.

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.