BNP Paribas Financial Markets Sells 243,660 Shares of Edison International (NYSE:EIX)

BNP Paribas Financial Markets lowered its position in shares of Edison International (NYSE:EIX - Free Report) by 23.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 778,906 shares of the utilities provider's stock after selling 243,660 shares during the period. BNP Paribas Financial Markets owned about 0.20% of Edison International worth $67,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Lake Street Advisors Group LLC grew its holdings in Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider's stock worth $263,000 after acquiring an additional 124 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider's stock worth $416,000 after purchasing an additional 129 shares in the last quarter. SFE Investment Counsel lifted its stake in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock valued at $3,721,000 after buying an additional 130 shares during the period. Equitable Trust Co. boosted its holdings in shares of Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock worth $1,108,000 after buying an additional 132 shares in the last quarter. Finally, TIAA Trust National Association grew its position in shares of Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock worth $483,000 after buying an additional 134 shares during the period. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on EIX. Morgan Stanley dropped their target price on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They set a "buy" rating and a $93.00 price objective on the stock. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They issued a "buy" rating and a $95.00 target price for the company. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Finally, Evercore ISI boosted their price objective on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.75.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Edison International Stock Performance

Shares of NYSE:EIX traded up $0.62 during midday trading on Thursday, reaching $88.36. The company had a trading volume of 1,589,281 shares, compared to its average volume of 2,037,297. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The company's 50 day moving average price is $84.84 and its 200 day moving average price is $80.46. 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 stock has a market cap of $34.21 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.09 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. As a group, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.53%. Edison International's dividend payout ratio is presently 91.50%.

About Edison International

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.