Alliancebernstein L.P. Cuts Stock Position in Edison International (NYSE:EIX)

Alliancebernstein L.P. decreased its holdings in shares of Edison International (NYSE:EIX) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 427,757 shares of the utilities provider’s stock after selling 4,696 shares during the period. Alliancebernstein L.P.’s holdings in Edison International were worth $34,152,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB lifted its stake in shares of Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after purchasing an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Edison International during the 4th quarter valued at about $235,000. KBC Group NV lifted its position in Edison International by 23.7% during the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after acquiring an additional 11,764 shares in the last quarter. abrdn plc boosted its holdings in Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after acquiring an additional 76,654 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Down 6.3 %

Shares of NYSE:EIX opened at $54.71 on Friday. The company’s fifty day moving average is $54.84 and its two-hundred day moving average is $71.55. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The stock has a market capitalization of $21.06 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Equities analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.05%. Edison International’s dividend payout ratio is currently 100.30%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays reduced their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Edison International has an average rating of “Moderate Buy” and a consensus target price of $76.82.

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.