Clearbridge Investments LLC Cuts Stake in Edison International (NYSE:EIX)

Clearbridge Investments LLC decreased its position in Edison International (NYSE:EIX) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,887,930 shares of the utilities provider’s stock after selling 341,424 shares during the period. Clearbridge Investments LLC’s holdings in Edison International were worth $390,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its position in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Edison International by 2.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 236,040 shares of the utilities provider’s stock valued at $20,557,000 after purchasing an additional 5,285 shares during the period. Glenmede Trust Co. NA boosted its holdings in Edison International by 5.5% during the third quarter. Glenmede Trust Co. NA now owns 7,668 shares of the utilities provider’s stock worth $668,000 after buying an additional 400 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Edison International in the third quarter valued at $132,000. Finally, CreativeOne Wealth LLC acquired a new position in shares of Edison International in the third quarter worth about $394,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on EIX shares. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Mizuho lowered their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Barclays dropped their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group reduced their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Performance

Shares of EIX stock opened at $58.20 on Friday. The stock has a fifty day moving average price of $55.00 and a 200 day moving average price of $72.50. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market cap of $22.41 billion, a PE ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.69%. Edison International’s dividend payout ratio is presently 100.30%.

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.