Edison International (NYSE:EIX) Shares Sold by Carson Advisory Inc.

Carson Advisory Inc. lessened its holdings in shares of Edison International (NYSE:EIX) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,228 shares of the utilities provider’s stock after selling 1,124 shares during the quarter. Edison International makes up approximately 2.9% of Carson Advisory Inc.’s investment portfolio, making the stock its 6th largest position. Carson Advisory Inc.’s holdings in Edison International were worth $4,170,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB boosted its holdings in shares of Edison International by 3.3% during the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after buying an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in Edison International during the fourth quarter worth approximately $235,000. KBC Group NV boosted its holdings in shares of Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after acquiring an additional 11,764 shares during the period. abrdn plc grew its position 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, Charles Schwab Investment Management Inc. increased its stake in shares of Edison International by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after purchasing an additional 76,654 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EIX. Barclays reduced their price target on Edison International from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley upped 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. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.75.

Edison International Stock Performance

NYSE:EIX opened at $56.12 on Friday. The stock’s 50-day moving average is $54.86 and its 200-day moving average is $70.15. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market cap of $21.61 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74.

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

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 5.90%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio is currently 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.