Gulf International Bank UK Ltd Sells 8,671 Shares of Edison International $EIX

Key Points

• Gulf International Bank UK Ltd reduced its stake in Edison International by 28.9%, owning 21,308 shares worth approximately $1,255,000 after selling 8,671 shares in the first quarter.
• Edison International reported an earnings per share (EPS) of $0.97 for the last quarter, exceeding estimates, with revenue of $4.54 billion, marking a 4.8% year-over-year increase.
• The company declared a quarterly dividend of $0.8275, reflecting an annualized yield of 6.0%, with a payout ratio of 48.60%.

Gulf International Bank UK Ltd trimmed its position in Edison International (NYSE:EIX - Free Report) by 28.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,308 shares of the utilities provider's stock after selling 8,671 shares during the quarter. Gulf International Bank UK Ltd's holdings in Edison International were worth $1,255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Edison International by 98.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock valued at $647,000 after purchasing an additional 5,454 shares in the last quarter. Tounjian Advisory Partners LLC acquired a new position in shares of Edison International during the 1st quarter worth approximately $1,151,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Edison International by 135.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock worth $7,297,000 after purchasing an additional 71,159 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Edison International by 4,157.4% during the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock worth $8,554,000 after acquiring an additional 141,769 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Edison International by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider's stock worth $150,961,000 after acquiring an additional 145,358 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Edison International Stock Up 0.3%

Shares of Edison International stock traded up $0.17 on Monday, reaching $55.67. The company's stock had a trading volume of 1,856,849 shares, compared to its average volume of 3,758,230. The company has a market capitalization of $21.42 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 1.31 and a beta of 0.75. The firm's fifty day simple moving average is $52.04 and its two-hundred day simple moving average is $54.22. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The firm's revenue was up 4.8% on a year-over-year basis. Equities analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were given a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Monday, July 7th. Edison International's payout ratio is presently 48.60%.

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.