Franklin Resources Inc. Trims Stake in Edison International (NYSE:EIX)

Franklin Resources Inc. reduced its stake in Edison International (NYSE:EIX - Free Report) by 15.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,516,294 shares of the utilities provider's stock after selling 1,001,190 shares during the quarter. Franklin Resources Inc. owned about 1.42% of Edison International worth $440,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of EIX. Crews Bank & Trust purchased a new stake in shares of Edison International during the 4th quarter valued at $25,000. Sierra Ocean LLC bought a new position in Edison International in the fourth quarter valued at $33,000. Raleigh Capital Management Inc. raised its position in Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 311 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Edison International by 171.5% in the 4th quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider's stock worth $36,000 after purchasing an additional 283 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Trading Down 2.7 %

NYSE:EIX traded down $1.63 during mid-day trading on Thursday, reaching $58.30. 3,828,856 shares of the company's stock traded hands, compared to its average volume of 2,870,486. The company has a 50 day moving average price of $54.89 and a 200-day moving average price of $71.97. The firm has a market capitalization of $22.44 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77.

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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). The business had revenue of $17.60 billion for the quarter, compared to analysts' expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts predict that Edison International will post 4.95 earnings per share 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 of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.68%. Edison International's dividend payout ratio (DPR) is presently 100.30%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EIX. Wells Fargo & Company decreased their price objective on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Morgan Stanley lifted their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Mizuho reduced their target price on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Finally, The Goldman Sachs Group cut their price target on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. One 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. Based on data from MarketBeat.com, Edison International presently has an average rating of "Moderate Buy" and an average price target 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.