BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 175,417 Shares of Edison International (NYSE:EIX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its holdings in shares of Edison International (NYSE:EIX) by 36.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,665 shares of the utilities provider’s stock after selling 175,417 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Edison International were worth $26,185,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of EIX. Darwin Wealth Management LLC acquired a new position in shares of Edison International during the 3rd quarter valued at $35,000. Prospera Private Wealth LLC bought a new stake in Edison International in the third quarter valued at $32,000. PNC Financial Services Group Inc. raised its holdings in shares of Edison International by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 53,577 shares of the utilities provider’s stock valued at $4,666,000 after purchasing an additional 3,311 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Edison International during the 3rd quarter worth about $1,387,000. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Edison International by 51.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,494 shares of the utilities provider’s stock valued at $653,000 after buying an additional 2,554 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Edison International Stock Down 0.7 %

Edison International stock opened at $86.51 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market cap of $33.49 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The firm’s 50-day simple moving average is $84.64 and its 200 day simple moving average is $80.08.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 EPS. Research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is 91.50%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 54.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,516 shares of company stock valued at $4,169,652. 1.03% of the stock is owned by insiders.

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.