Clearbridge Investments LLC Decreases Stake in Edison International (NYSE:EIX)

Clearbridge Investments LLC lessened its stake in Edison International (NYSE:EIX - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,887,930 shares of the utilities provider's stock after selling 341,424 shares during the period. Clearbridge Investments LLC owned about 1.26% of Edison International worth $390,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jamison Private Wealth Management Inc. grew its holdings in Edison International by 2.6% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider's stock valued at $550,000 after buying an additional 174 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of Edison International by 2.9% during the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider's stock valued at $503,000 after acquiring an additional 176 shares during the last quarter. Old Port Advisors grew its holdings in shares of Edison International by 0.9% in the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider's stock valued at $1,540,000 after purchasing an additional 180 shares during the period. Larson Financial Group LLC increased its position in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider's stock worth $31,000 after purchasing an additional 195 shares during the last quarter. Finally, Centre Asset Management LLC increased its position in Edison International by 8.1% during the fourth quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider's stock worth $212,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

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Edison International Stock Performance

EIX stock traded down $1.39 on Thursday, hitting $58.53. The company's stock had a trading volume of 825,322 shares, compared to its average volume of 2,858,771. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. 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 $22.54 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The firm has a 50 day moving average of $54.89 and a two-hundred day moving average of $71.97.

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

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Monday, April 7th. Edison International's dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EIX. Morgan Stanley increased their price target on shares of Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Guggenheim cut Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Mizuho lowered their target price 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. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International presently has an average rating of "Moderate Buy" and an average price target of $76.82.

Edison International 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.