D.A. Davidson & CO. Sells 9,340 Shares of Edison International (NYSE:EIX)

D.A. Davidson & CO. reduced its position in shares of Edison International (NYSE:EIX - Free Report) by 21.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,433 shares of the utilities provider's stock after selling 9,340 shares during the period. D.A. Davidson & CO.'s holdings in Edison International were worth $2,029,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EIX. Rakuten Securities Inc. grew its stake in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after acquiring an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in Edison International during the 1st quarter worth about $25,000. Bellwether Advisors LLC acquired a new position in shares of Edison International during the 4th quarter worth about $34,000. OFI Invest Asset Management bought a new position in shares of Edison International in the 4th quarter valued at about $38,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Edison International during the 4th quarter worth approximately $44,000. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EIX. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley lowered their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. JPMorgan Chase & Co. dropped their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Finally, Barclays lifted their target price on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $76.82.

Edison International Price Performance

Shares of EIX stock traded down $2.06 during trading on Monday, hitting $50.49. The company had a trading volume of 3,998,333 shares, compared to its average volume of 3,325,208. The firm has a market capitalization of $19.43 billion, a P/E ratio of 7.16, a price-to-earnings-growth ratio of 1.23 and a beta of 0.75. The stock's 50-day moving average price is $53.90 and its 200 day moving average price is $57.55. Edison International has a one year low of $47.73 and a one year high of $88.77. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. Equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.56%. Edison International's dividend payout ratio (DPR) is currently 46.95%.

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.