Alliancebernstein L.P. Sells 4,696 Shares of Edison International (NYSE:EIX)

Alliancebernstein L.P. cut its position in Edison International (NYSE:EIX - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 427,757 shares of the utilities provider's stock after selling 4,696 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Edison International worth $34,152,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EIX. Crews Bank & Trust purchased a new position in Edison International in the fourth quarter worth about $25,000. Groupama Asset Managment raised its holdings in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after buying an additional 237 shares during the last quarter. Sierra Ocean LLC purchased a new position in Edison International in the fourth quarter worth about $33,000. ST Germain D J Co. Inc. raised its holdings in Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after buying an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in Edison International by 285.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock worth $34,000 after buying an additional 311 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note 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. Mizuho reduced their price target on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group reduced 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 note on Tuesday, March 4th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.75.

Remove Ads

Edison International Stock Performance

NYSE EIX traded down $1.36 during trading hours on Thursday, hitting $54.71. 429,331 shares of the company's stock traded hands, compared to its average volume of 2,909,914. The business's fifty day moving average price is $54.71 and its two-hundred day moving average price is $70.57. 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 firm has a market capitalization of $21.06 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.07 and a beta of 0.74. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) 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). The firm had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Equities research analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.05%. Edison International's payout ratio is currently 100.30%.

About Edison International

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.