Twinbeech Capital LP Lowers Stock Holdings in Edison International (NYSE:EIX)

Twinbeech Capital LP cut its holdings in Edison International (NYSE:EIX - Free Report) by 73.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,237 shares of the utilities provider's stock after selling 190,000 shares during the period. Twinbeech Capital LP's holdings in Edison International were worth $5,368,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Crews Bank & Trust bought a new position in shares of Edison International in the fourth quarter valued at approximately $25,000. Sierra Ocean LLC bought a new position in Edison International during the fourth quarter valued at $33,000. Raleigh Capital Management Inc. grew its holdings in Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 311 shares during the period. Bellwether Advisors LLC bought a new position in Edison International during the fourth quarter valued at $34,000. Finally, OFI Invest Asset Management bought a new position in Edison International during the fourth quarter valued at $38,000. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

Shares of EIX stock traded up $0.40 on Friday, reaching $56.62. The company's stock had a trading volume of 1,568,213 shares, compared to its average volume of 3,041,164. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company has a market capitalization of $21.78 billion, a P/E ratio of 16.60, a PEG ratio of 1.07 and a beta of 0.77. The stock's 50 day simple moving average is $56.81 and its 200-day simple moving average is $64.46.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the business posted $1.13 earnings per share. The firm's revenue was down 6.5% compared to the same quarter last year. As a group, equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were given a $0.8275 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.85%. Edison International's dividend payout ratio (DPR) is presently 46.95%.

Analyst Ratings Changes

EIX has been the subject of several research reports. 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 report on Monday, May 19th. Wells Fargo & Company reduced their price objective on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Evercore ISI reissued an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley set a $52.00 price target on Edison International and gave the stock an "underweight" rating in a report on Thursday. Finally, UBS Group raised Edison International from a "neutral" rating to a "buy" rating and cut their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.89.

About Edison International

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.