Townsquare Capital LLC Lowers Stake in Edison International (NYSE:EIX)

Townsquare Capital LLC lessened its stake in shares of Edison International (NYSE:EIX - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,024 shares of the utilities provider's stock after selling 8,163 shares during the quarter. Townsquare Capital LLC's holdings in Edison International were worth $4,393,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Swedbank AB lifted its holdings in Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider's stock valued at $41,791,000 after purchasing an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Edison International in the fourth quarter worth $235,000. KBC Group NV grew its stake in Edison International by 23.7% during 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 in the last quarter. abrdn plc increased 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 valued at $134,335,000 after acquiring an additional 276,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock valued at $192,955,000 after purchasing an additional 76,654 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Stock Performance

Shares of EIX stock traded up $1.04 during trading hours on Friday, hitting $57.37. The company's stock had a trading volume of 2,010,297 shares, compared to its average volume of 2,941,222. 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 company has a 50 day moving average of $55.47 and a 200 day moving average of $69.23. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The stock has a market cap of $22.09 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74.

Edison International (NYSE:EIX - Get Free Report) last posted 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). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. On average, sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.77%. Edison International's payout ratio is presently 100.30%.

Analysts Set New Price Targets

EIX has been the topic of several research reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and reduced their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Guggenheim downgraded shares of Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Barclays cut their target price on Edison International from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $76.75.

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.