KBC Group NV Lowers Stock Position in Edison International (NYSE:EIX)

KBC Group NV reduced its holdings in shares of Edison International (NYSE:EIX - Free Report) by 18.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,995 shares of the utilities provider's stock after selling 11,347 shares during the quarter. KBC Group NV's holdings in Edison International were worth $2,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Edison International by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 933,208 shares of the utilities provider's stock worth $54,985,000 after acquiring an additional 3,549 shares during the period. Surience Private Wealth LLC bought a new stake in shares of Edison International during the 1st quarter valued at about $605,000. Elevated Capital Advisors LLC lifted its holdings in shares of Edison International by 26.6% during the 1st quarter. Elevated Capital Advisors LLC now owns 13,182 shares of the utilities provider's stock worth $777,000 after acquiring an additional 2,766 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Edison International by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,068 shares of the utilities provider's stock worth $2,448,000 after buying an additional 4,669 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in Edison International by 34.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 171,971 shares of the utilities provider's stock worth $10,133,000 after purchasing an additional 44,116 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of NYSE:EIX opened at $52.54 on Thursday. The firm has a market cap of $20.22 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 1.24 and a beta of 0.75. Edison International has a fifty-two week low of $47.73 and a fifty-two week 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. The firm has a fifty day moving average price of $54.12 and a 200 day moving average price of $58.23.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company earned $1.13 EPS. The company's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Edison International will post 4.95 earnings per share 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 given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend is Monday, July 7th. Edison International's dividend payout ratio (DPR) is 46.95%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of analyst reports. Barclays increased their target price on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Morgan Stanley decreased their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. One investment 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 MarketBeat, Edison International currently has an average rating of "Moderate Buy" and a consensus 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.

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