Envestnet Asset Management Inc. Cuts Stock Holdings in Edison International (NYSE:EIX)

Envestnet Asset Management Inc. decreased its holdings in shares of Edison International (NYSE:EIX - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 389,085 shares of the utilities provider's stock after selling 98,112 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Edison International worth $22,925,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock worth $3,879,408,000 after acquiring an additional 1,559,501 shares in the last quarter. Geode Capital Management LLC raised its stake in Edison International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock worth $795,123,000 after acquiring an additional 362,999 shares in the last quarter. Northern Trust Corp raised its stake in Edison International by 53.9% during the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after acquiring an additional 2,016,017 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Edison International by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock worth $412,246,000 after acquiring an additional 371,043 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Edison International by 1.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock worth $409,865,000 after acquiring an additional 50,451 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Trading Up 0.8%

NYSE EIX traded up $0.41 during trading hours on Thursday, hitting $51.35. 1,629,939 shares of the company's stock were exchanged, compared to its average volume of 3,386,865. The stock has a 50-day simple moving average of $53.11 and a 200 day simple moving average of $56.26. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77. The firm has a market cap of $19.76 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 1.18 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06.

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, topping the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The firm's revenue was down 6.5% on a year-over-year basis. On average, equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be paid a $0.8275 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.45%. Edison International's dividend payout ratio (DPR) is presently 46.95%.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Barclays increased their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Morgan Stanley dropped their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. dropped their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $76.82.

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.