Edison International (NYSE:EIX) Shares Sold by Morningstar Investment Services LLC

Morningstar Investment Services LLC cut its stake in Edison International (NYSE:EIX - Free Report) by 55.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,901 shares of the utilities provider's stock after selling 22,448 shares during the quarter. Morningstar Investment Services LLC's holdings in Edison International were worth $1,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EIX. Rakuten Securities Inc. increased its stake in shares of Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Edison International during the 1st quarter valued at about $25,000. Bellwether Advisors LLC purchased a new position in shares of Edison International in the 4th quarter valued at about $34,000. Mizuho Bank Ltd. purchased a new position in shares of Edison International in the 4th quarter valued at about $50,000. Finally, Versant Capital Management Inc boosted its stake 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 valued at $52,000 after buying an additional 433 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Down 0.4%

EIX stock traded down $0.19 during trading on Friday, hitting $51.14. 2,995,596 shares of the company's stock were exchanged, compared to its average volume of 3,406,889. 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 has a 52-week low of $47.73 and a 52-week high of $88.77. The business has a 50-day moving average price of $52.91 and a two-hundred day moving average price of $55.70. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 1.21 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share 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 company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

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 paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Monday, July 7th. Edison International's dividend payout ratio is currently 46.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EIX shares. Morgan Stanley decreased their price objective 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. JPMorgan Chase & Co. decreased 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. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Barclays lifted their price objective on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One equities research 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. According to MarketBeat, Edison International has a consensus rating of "Moderate Buy" and an average price target of $76.82.

Edison International 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.