Townsquare Capital LLC Decreases Stake in Edison International (NYSE:EIX)

Key Points

• Townsquare Capital LLC reduced its stake in Edison International by 17.1%, selling 9,392 shares, bringing its total holdings to 45,632 shares valued at approximately $2.69 million.
• The company reported a quarterly EPS of $0.97, surpassing expectations, and saw a 4.8% increase in year-over-year revenue, amounting to $4.54 billion.
• Edison International recently announced a quarterly dividend of $0.8275 per share, leading to an annualized dividend yield of 6.0%.

Townsquare Capital LLC cut its holdings in Edison International (NYSE:EIX - Free Report) by 17.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,632 shares of the utilities provider's stock after selling 9,392 shares during the period. Townsquare Capital LLC's holdings in Edison International were worth $2,689,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EIX. Rakuten Securities Inc. boosted its position in Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after buying an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Edison International in the 1st quarter worth approximately $25,000. Investment Management Corp VA ADV lifted its position in shares of Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after purchasing an additional 265 shares during the period. Bellwether Advisors LLC purchased a new stake in shares of Edison International in the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc lifted its position in shares of Edison International by 96.7% in the 1st quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after purchasing an additional 433 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

EIX stock traded down $0.30 during midday trading on Friday, hitting $55.72. 913,100 shares of the stock traded hands, compared to its average volume of 4,450,368. The firm has a market cap of $21.44 billion, a P/E ratio of 8.18, a PEG ratio of 1.32 and a beta of 0.75. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The stock's fifty day simple moving average is $51.88 and its 200-day simple moving average is $54.23. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. On average, analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio (DPR) is presently 48.60%.

Wall Street Analyst Weigh In

EIX has been the subject of several research reports. Barclays upped their price target on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. lowered their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Morgan Stanley lowered their price target on shares of 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, Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Edison International currently has an average rating of "Moderate Buy" and a consensus target price of $75.21.

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.