Natixis Advisors LLC Sells 90,116 Shares of Edison International (NYSE:EIX)

Key Points

• Natixis Advisors LLC reduced its stake in Edison International by 55.7%, selling 90,116 shares and now holds 71,807 shares valued at approximately $4.23 million.
• Several large institutional investors have recently altered their positions in Edison International, with Rakuten Securities Inc. significantly increasing its holdings by 4,633.3%.
• Edison International reported $0.97 EPS for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.8275 per share with a yield of 6.0%.

Natixis Advisors LLC decreased its position in Edison International (NYSE:EIX - Free Report) by 55.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,807 shares of the utilities provider's stock after selling 90,116 shares during the quarter. Natixis Advisors LLC's holdings in Edison International were worth $4,231,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EIX. Canada Pension Plan Investment Board lifted its holdings in shares of Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after buying an additional 2,643,571 shares during the period. Northern Trust Corp lifted its holdings in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after buying an additional 2,016,017 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Edison International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after buying an additional 1,673,204 shares during the period. Invesco Ltd. raised its position in shares of Edison International by 38.2% during the fourth 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 period. Finally, Allianz Asset Management GmbH raised its position in shares of Edison International by 1,946.0% during the first quarter. Allianz Asset Management GmbH now owns 1,255,449 shares of the utilities provider's stock worth $73,971,000 after purchasing an additional 1,194,088 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Down 2.2%

EIX stock traded down $1.19 during mid-day trading on Friday, hitting $53.75. The stock had a trading volume of 4,797,539 shares, compared to its average volume of 4,518,273. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77. The company has a fifty day moving average of $51.83 and a 200 day moving average of $54.34. The stock has a market capitalization of $20.68 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 1.29 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the firm posted $1.23 EPS. The business's revenue was up 4.8% compared to the same quarter last year. On average, equities analysts expect 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. 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 of this dividend was Monday, July 7th. Edison International's dividend payout ratio is presently 48.60%.

Analysts Set New Price Targets

EIX has been the topic of a number of recent analyst reports. 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. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Barclays boosted their target price on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday. JPMorgan Chase & Co. cut their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.19.

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.