BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stake in Edison International (NYSE:EIX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in Edison International (NYSE:EIX) by 3.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 309,186 shares of the utilities provider’s stock after selling 9,486 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.08% of Edison International worth $26,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EIX. FMR LLC grew its stake in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. Clearbridge Investments LLC raised its position in Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares in the last quarter. American Century Companies Inc. lifted its stake in Edison International by 1.8% during the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after purchasing an additional 67,089 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Edison International by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after purchasing an additional 28,240 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Edison International by 10.1% during the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after purchasing an additional 190,026 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on EIX. Wells Fargo & Company boosted their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, 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 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

EIX stock opened at $87.75 on Friday. The firm has a 50-day moving average of $84.89 and a 200 day moving average of $80.59. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market cap of $33.97 billion, a P/E ratio of 25.73, a PEG ratio of 2.10 and a beta of 0.92. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS. On average, sell-side analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

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.