Capital International Investors cut its stake in Edison International (NYSE:EIX - Free Report) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,801,953 shares of the utilities provider's stock after selling 626,562 shares during the quarter. Capital International Investors owned about 1.76% of Edison International worth $543,039,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of EIX. Crews Bank & Trust acquired a new position in Edison International during the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in Edison International during the 4th quarter valued at $33,000. ST Germain D J Co. Inc. increased its stake in Edison International by 88.1% during the 4th 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 period. Raleigh Capital Management Inc. lifted its holdings in Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock worth $34,000 after buying an additional 311 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Edison International by 171.5% in the 4th quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider's stock valued at $36,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.
Edison International Stock Performance
EIX traded up $0.29 during trading hours on Thursday, hitting $58.45. The company's stock had a trading volume of 852,753 shares, compared to its average volume of 2,949,831. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a 50-day simple moving average of $55.82 and a 200 day simple moving average of $68.62. The firm has a market capitalization of $22.50 billion, a PE ratio of 17.14, a PEG ratio of 1.07 and a beta of 0.74.
Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, sell-side analysts expect that Edison International will post 4.95 EPS for the current year.
Edison International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.66%. Edison International's dividend payout ratio is presently 100.30%.
Analyst Ratings Changes
EIX has been the topic of several recent analyst reports. Barclays cut their price target on Edison International from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Wells Fargo & Company dropped 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. LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Finally, Morgan Stanley boosted their target price on shares of Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.75.
Read Our Latest Analysis on Edison International
Edison International Profile
(
Free Report)
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.
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