Franklin Resources Inc. Reduces Stake in Edison International (EIX)

Franklin Resources Inc. lessened its position in Edison International (NYSE:EIX) by 9.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,658,065 shares of the utilities provider’s stock after selling 402,203 shares during the period. Franklin Resources Inc. owned approximately 1.12% of Edison International worth $232,873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in shares of Edison International by 0.5% in the 1st quarter. Baillie Gifford & Co. now owns 197,370 shares of the utilities provider’s stock worth $12,564,000 after acquiring an additional 910 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Edison International by 3.2% in the 4th quarter. LS Investment Advisors LLC now owns 29,134 shares of the utilities provider’s stock worth $1,842,000 after acquiring an additional 917 shares during the last quarter. Advisor Partners LLC grew its holdings in shares of Edison International by 15.2% in the 1st quarter. Advisor Partners LLC now owns 6,963 shares of the utilities provider’s stock worth $443,000 after acquiring an additional 917 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in shares of Edison International by 3.3% in the 4th quarter. New Mexico Educational Retirement Board now owns 31,302 shares of the utilities provider’s stock worth $1,980,000 after acquiring an additional 1,000 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its holdings in shares of Edison International by 1.4% in the 1st quarter. MUFG Americas Holdings Corp now owns 72,813 shares of the utilities provider’s stock worth $4,636,000 after acquiring an additional 1,026 shares during the last quarter. 81.78% of the stock is currently owned by institutional investors.

Shares of NYSE EIX opened at $62.98 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 0.96. Edison International has a one year low of $57.63 and a one year high of $83.38. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 2.71 and a beta of 0.12.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, May 1st. The utilities provider reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). Edison International had a net margin of 4.38% and a return on equity of 10.22%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. equities research analysts anticipate that Edison International will post 4.05 EPS for the current fiscal year.

A number of brokerages recently issued reports on EIX. Morgan Stanley restated an “equal weight” rating and issued a $69.00 target price (down from $72.00) on shares of Edison International in a report on Thursday, March 8th. Edward Jones upgraded Edison International from a “sell” rating to a “hold” rating in a report on Thursday, April 5th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Citigroup lifted their target price on Edison International from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Tuesday, May 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $70.00 price target on shares of Edison International in a report on Wednesday, March 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Edison International currently has an average rating of “Hold” and an average target price of $76.92.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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