Reaves W H & Co. Inc. Sells 434,381 Shares of Edison International (NYSE:EIX)

Reaves W H & Co. Inc. trimmed its holdings in Edison International (NYSE:EIX) by 35.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 774,721 shares of the utilities provider’s stock after selling 434,381 shares during the quarter. Edison International makes up about 1.6% of Reaves W H & Co. Inc.’s holdings, making the stock its 28th largest position. Reaves W H & Co. Inc.’s holdings in Edison International were worth $61,854,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Swedbank AB raised its holdings in shares of Edison International by 3.3% in the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after purchasing an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Edison International in the fourth quarter valued at about $235,000. KBC Group NV raised its holdings in shares of Edison International by 23.7% in the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after purchasing an additional 11,764 shares during the last quarter. abrdn plc raised its holdings in shares of Edison International by 19.5% in the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after purchasing an additional 276,656 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Edison International in the third quarter valued at about $1,387,000. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on EIX. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Barclays decreased their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday. 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 report on Wednesday, January 15th. Finally, Morgan Stanley decreased their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.25.

Edison International Price Performance

EIX opened at $55.34 on Tuesday. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The company has a market capitalization of $21.42 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.07 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $60.89 and a 200-day moving average price of $76.21.

Edison International (NYSE:EIX) last announced its 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 net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Equities analysts expect 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. Shareholders 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 yield of 5.98%. Edison International’s payout ratio is presently 100.30%.

Edison International 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.