Reaves W H & Co. Inc. Has $61.85 Million Stock Holdings in Edison International (NYSE:EIX)

Reaves W H & Co. Inc. trimmed its stake in shares of Edison International (NYSE:EIX) by 35.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,721 shares of the utilities provider’s stock after selling 434,381 shares during the quarter. Edison International makes up about 1.6% of Reaves W H & Co. Inc.’s portfolio, making the stock its 28th largest holding. Reaves W H & Co. Inc. owned about 0.20% of Edison International worth $61,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Swedbank AB increased its position in Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after acquiring an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in Edison International in the 4th quarter valued at approximately $235,000. KBC Group NV increased its position in Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares during the period. abrdn plc increased its position in Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after acquiring an additional 276,656 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Edison International in the 3rd quarter valued at approximately $1,387,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EIX. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Morgan Stanley reduced their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.25.

Edison International Stock Up 1.7 %

Shares of NYSE EIX opened at $55.34 on Tuesday. The firm has a market cap of $21.42 billion, a PE ratio of 16.23, a P/E/G ratio of 1.07 and a beta of 0.90. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company’s fifty day simple moving average is $60.89 and its 200 day simple moving average is $76.21. 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 (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, sell-side analysts forecast 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 will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is 100.30%.

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.