Gulf International Bank UK Ltd Lowers Stock Holdings in Edison International (NYSE:EIX)

Gulf International Bank UK Ltd trimmed its position in shares of Edison International (NYSE:EIX) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,979 shares of the utilities provider’s stock after selling 333 shares during the period. Gulf International Bank UK Ltd’s holdings in Edison International were worth $2,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EIX. AMF Tjanstepension AB boosted its holdings in Edison International by 9.8% during the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock valued at $23,662,000 after acquiring an additional 24,208 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Edison International by 5.2% in the 3rd quarter. New York State Teachers Retirement System now owns 390,144 shares of the utilities provider’s stock valued at $33,978,000 after buying an additional 19,196 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Edison International by 10.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,535 shares of the utilities provider’s stock valued at $830,000 after buying an additional 932 shares during the period. Pinnacle Associates Ltd. purchased a new position in shares of Edison International in the 3rd quarter valued at about $308,000. Finally, US Bancorp DE boosted its stake in shares of Edison International by 1.2% in the 3rd quarter. US Bancorp DE now owns 61,744 shares of the utilities provider’s stock valued at $5,377,000 after buying an additional 743 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent research reports. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley decreased their price objective on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company decreased their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.75.

Edison International Price Performance

EIX stock opened at $54.45 on Friday. The stock has a market cap of $21.08 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.07 and a beta of 0.90. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The business has a 50 day moving average price of $61.38 and a 200 day moving average price of $76.50. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

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

Edison International Announces Dividend

The company also recently declared 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. This represents a $3.31 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is 97.07%.

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.