Franklin Resources Inc. Raises Stock Position in Edison International (NYSE:EIX)

Franklin Resources Inc. grew its holdings in Edison International (NYSE:EIX) by 0.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,517,484 shares of the utilities provider’s stock after acquiring an additional 2,410 shares during the period. Franklin Resources Inc. owned about 1.68% of Edison International worth $550,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in Edison International by 2.6% in the 3rd quarter. Tidal Investments LLC now owns 18,719 shares of the utilities provider’s stock worth $1,630,000 after purchasing an additional 476 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Edison International during the third quarter valued at approximately $188,000. World Investment Advisors LLC purchased a new position in shares of Edison International in the third quarter worth $221,000. Sanctuary Advisors LLC lifted its holdings in shares of Edison International by 11.9% in the third quarter. Sanctuary Advisors LLC now owns 31,940 shares of the utilities provider’s stock worth $2,762,000 after buying an additional 3,389 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Edison International during the third quarter valued at $1,791,000. Institutional investors own 88.95% of the company’s stock.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on EIX shares. Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Barclays raised their price target on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Argus upped their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Jefferies Financial Group started coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average price target of $88.75.

Edison International Stock Up 0.3 %

Shares of EIX opened at $81.89 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The business has a fifty day moving average of $84.27 and a 200 day moving average of $81.11. The company has a market cap of $31.70 billion, a PE ratio of 24.01, a P/E/G ratio of 1.95 and a beta of 0.92. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned $1.38 EPS. On average, sell-side analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is 91.50%.

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.