Franklin Resources Inc. Has $440.42 Million Position in Edison International (NYSE:EIX)

Franklin Resources Inc. cut its stake in shares of Edison International (NYSE:EIX) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,516,294 shares of the utilities provider’s stock after selling 1,001,190 shares during the quarter. Franklin Resources Inc.’s holdings in Edison International were worth $440,421,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. Norges Bank bought a new position in Edison International during the 4th quarter valued at about $323,443,000. Vanguard Group Inc. increased its holdings in shares of Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after buying an additional 1,559,501 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Edison International during the fourth quarter worth approximately $39,344,000. AustralianSuper Pty Ltd bought a new position in shares of Edison International in the fourth quarter valued at approximately $31,877,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Edison International by 74.6% in the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock worth $72,379,000 after acquiring an additional 387,215 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Mizuho cut 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. Wells Fargo & Company reduced their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Finally, Morgan Stanley increased their price target on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Price Performance

Shares of EIX stock opened at $58.95 on Tuesday. The firm’s 50 day moving average price is $54.93 and its two-hundred day moving average price is $72.24. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The stock has a market cap of $22.70 billion, a PE ratio of 17.29, a PEG ratio of 1.07 and a beta of 0.87.

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

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given 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 5.61%. Edison International’s payout ratio is currently 100.30%.

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.