KWB Wealth Decreases Stake in Edison International (NYSE:EIX)

KWB Wealth lowered its position in Edison International (NYSE:EIX) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,005 shares of the utilities provider’s stock after selling 480 shares during the quarter. KWB Wealth’s holdings in Edison International were worth $1,172,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Edison International by 9.2% during the 1st quarter. BlackRock Inc. now owns 37,412,921 shares of the utilities provider’s stock worth $2,192,396,000 after purchasing an additional 3,140,052 shares in the last quarter. Franklin Resources Inc. raised its stake in Edison International by 33.6% in the 1st quarter. Franklin Resources Inc. now owns 17,120,907 shares of the utilities provider’s stock valued at $1,003,287,000 after purchasing an additional 4,305,411 shares during the last quarter. Pzena Investment Management LLC raised its stake in Edison International by 10.7% in the 2nd quarter. Pzena Investment Management LLC now owns 14,712,945 shares of the utilities provider’s stock valued at $850,702,000 after purchasing an additional 1,425,859 shares during the last quarter. Zimmer Partners LP increased its stake in shares of Edison International by 1.5% during the 1st quarter. Zimmer Partners LP now owns 7,565,252 shares of the utilities provider’s stock valued at $443,324,000 after acquiring an additional 115,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Edison International by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 6,259,730 shares of the utilities provider’s stock valued at $365,803,000 after acquiring an additional 141,133 shares during the last quarter. 86.85% of the stock is currently owned by institutional investors.

Several research firms have recently commented on EIX. Bank of America cut Edison International from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a research note on Tuesday, July 13th. TheStreet raised Edison International from a “c” rating to a “b-” rating in a research note on Thursday, July 29th. Mizuho increased their price target on Edison International from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, June 11th. Morgan Stanley cut their price target on Edison International from $72.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, September 9th. Finally, Barclays raised their price objective on Edison International from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.00.

EIX stock traded up $0.59 during midday trading on Wednesday, reaching $59.07. 16,940 shares of the company’s stock traded hands, compared to its average volume of 1,951,121. The firm has a market capitalization of $22.43 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.81 and a beta of 0.59. Edison International has a 52 week low of $48.47 and a 52 week high of $66.68. The company has a 50-day moving average price of $57.35 and a two-hundred day moving average price of $57.88. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.63.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 29th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.05). Edison International had a return on equity of 11.69% and a net margin of 6.83%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the firm posted $1.00 earnings per share. As a group, analysts predict that Edison International will post 4.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 31st. Stockholders of record on Thursday, September 30th will be paid a dividend of $0.6625 per share. This represents a $2.65 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Wednesday, September 29th. Edison International’s dividend payout ratio (DPR) is 58.63%.

Edison International Profile

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.

Featured Story: What is dividend yield?

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

Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.