Foster & Motley Inc. Has $4.73 Million Holdings in Edison International (NYSE:EIX)

Key Points

• Foster & Motley Inc. reduced its stake in Edison International by 12.5%, dropping its holdings to 80,275 shares valued at approximately $4.73 million.
• Edison International reported earnings per share of $1.37, exceeding analyst estimates, but experienced a 6.5% decline in revenue compared to the prior year.
• The company announced a quarterly dividend of $0.8275, translating to an annual yield of 6.31%, with a dividend payout ratio of 46.95%.

Foster & Motley Inc. lessened its stake in shares of Edison International (NYSE:EIX - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,275 shares of the utilities provider's stock after selling 11,416 shares during the period. Foster & Motley Inc.'s holdings in Edison International were worth $4,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its position in shares of Edison International by 98.7% in the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock valued at $647,000 after acquiring an additional 5,454 shares during the period. Tounjian Advisory Partners LLC bought a new stake in shares of Edison International in the first quarter valued at approximately $1,151,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Edison International by 135.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock valued at $7,297,000 after acquiring an additional 71,159 shares during the period. GAMMA Investing LLC boosted its position in shares of Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock valued at $8,554,000 after acquiring an additional 141,769 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Edison International by 17.2% in the first quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider's stock valued at $6,324,000 after acquiring an additional 15,718 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Price Performance

Shares of NYSE EIX traded up $0.97 during midday trading on Friday, reaching $53.09. 5,099,697 shares of the company traded hands, compared to its average volume of 4,511,370. The firm has a market cap of $20.43 billion, a PE ratio of 7.53, a PEG ratio of 1.22 and a beta of 0.75. The stock's 50-day simple moving average is $51.99 and its 200-day simple moving average is $54.57. Edison International has a 12 month low of $47.73 and a 12 month 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 issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same period last year, the business earned $1.23 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. As a group, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.2%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio (DPR) is presently 46.95%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EIX. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Morgan Stanley reduced 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. Barclays raised their target price on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced 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. Finally, Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $76.35.

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.