Edison International (NYSE:EIX) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Edison International by 22.6%, selling 95,191 shares and retaining approximately 325,821 shares, valued at $19,197,000.
• Investment activity around Edison International is notable, with Rakuten Securities increasing its holdings by 4,633.3% and several other investors establishing new positions worth around $25,000.
• Edison International announced a quarterly dividend of $0.8275, which translates to an annual yield of 6.39%, with the next payout scheduled for July 31st.

Mackenzie Financial Corp reduced its position in shares of Edison International (NYSE:EIX - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,821 shares of the utilities provider's stock after selling 95,191 shares during the quarter. Mackenzie Financial Corp owned 0.08% of Edison International worth $19,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. Geode Capital Management LLC grew its holdings in Edison International by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock valued at $795,123,000 after purchasing an additional 362,999 shares during the period. Northern Trust Corp lifted its holdings 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 valued at $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Edison International by 7.7% in 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 valued at $412,246,000 after purchasing an additional 371,043 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of 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 purchasing an additional 50,451 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Edison International by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock worth $384,560,000 after purchasing an additional 1,331,941 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley lowered their price objective on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. reduced their price objective 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. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Barclays raised their price target on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.35.

Edison International Trading Up 1.9%

EIX stock traded up $0.97 during midday trading on Friday, hitting $53.09. 5,100,849 shares of the company's stock were exchanged, compared to its average volume of 3,590,937. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77. The business has a 50-day simple moving average of $51.99 and a two-hundred day simple moving average of $54.57. The stock has a market capitalization of $20.43 billion, a PE ratio of 7.80, a P/E/G ratio of 1.23 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 quarterly earnings results 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 net margin of 16.00% and a return on equity of 12.11%. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business's revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.2%. Edison International's dividend payout ratio is presently 46.95%.

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.