Franklin Resources Inc. Has $440.42 Million Stock Holdings in Edison International (NYSE:EIX)

Franklin Resources Inc. decreased its holdings in shares of Edison International (NYSE:EIX) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,516,294 shares of the utilities provider’s stock after selling 1,001,190 shares during the quarter. Franklin Resources Inc. owned approximately 1.42% of Edison International worth $440,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in Edison International in the fourth quarter worth $323,443,000. Vanguard Group Inc. lifted its position in shares of Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after buying an additional 1,559,501 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Edison International during the 4th quarter worth about $39,344,000. AustralianSuper Pty Ltd acquired a new position in shares of Edison International during the 4th quarter valued at about $31,877,000. Finally, Victory Capital Management Inc. raised its stake in shares of Edison International by 74.6% in the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock valued at $72,379,000 after acquiring an additional 387,215 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

EIX opened at $58.95 on Tuesday. The stock’s 50 day simple moving average is $54.93 and its 200-day simple moving average is $72.24. 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 $22.70 billion, a PE ratio of 17.29, 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 quarterly 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 business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

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 $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.61%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analyst Weigh In

EIX has been the topic of several analyst reports. Barclays lowered their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Morgan Stanley lifted their target price on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Wells Fargo & Company decreased their price target 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. The Goldman Sachs Group dropped their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.82.

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.