Twinbeech Capital LP Sells 190,000 Shares of Edison International (NYSE:EIX)

Twinbeech Capital LP lessened its holdings in shares of Edison International (NYSE:EIX) by 73.9% in the fourth quarter, according to the company in its most recent disclosure 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 quarter. Twinbeech Capital LP’s holdings in Edison International were worth $5,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC raised its holdings in Edison International by 16.9% in the third quarter. Barclays PLC now owns 918,489 shares of the utilities provider’s stock worth $79,991,000 after purchasing an additional 132,749 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Edison International by 119.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 30,014 shares of the utilities provider’s stock worth $2,396,000 after purchasing an additional 16,362 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Edison International by 10.8% in the fourth quarter. Park Avenue Securities LLC now owns 3,004 shares of the utilities provider’s stock worth $240,000 after purchasing an additional 294 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Edison International in the fourth quarter worth $235,000. Finally, HB Wealth Management LLC raised its holdings in Edison International by 9.3% in the fourth quarter. HB Wealth Management LLC now owns 5,190 shares of the utilities provider’s stock worth $414,000 after purchasing an additional 443 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.4%

Edison International stock opened at $58.26 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a one year low of $49.06 and a one year high of $88.77. The stock has a market capitalization of $22.42 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The business’s fifty day moving average is $56.91 and its 200 day moving average is $64.86.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.29 billion. During the same period last year, the firm posted $1.13 earnings per share. Edison International’s revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend was Monday, April 7th. Edison International’s dividend payout ratio is 46.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EIX shares. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Mizuho cut their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. 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 note on Monday. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Evercore ISI reissued an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.89.

Edison International Company 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.