Mondrian Investment Partners LTD Sells 732 Shares of Edison International (NYSE:EIX)

Mondrian Investment Partners LTD lessened its position in Edison International (NYSE:EIX) by 3.5% during the fourth quarter, Holdings Channel reports. The fund owned 20,421 shares of the utilities provider’s stock after selling 732 shares during the period. Mondrian Investment Partners LTD’s holdings in Edison International were worth $1,630,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its stake in Edison International by 3.3% in the fourth 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 last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Edison International in the fourth quarter valued at $235,000. KBC Group NV increased its stake in Edison International by 23.7% in the fourth 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 last quarter. abrdn plc increased its stake in Edison International by 19.5% in the fourth 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake 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 during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Edison International stock opened at $55.86 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average of $57.02 and a 200-day moving average of $74.75. The firm has a market cap of $21.51 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.93%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Barclays cut their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Mizuho cut their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.54.

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.