Edison International (NYSE:EIX) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in Edison International (NYSE:EIX - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,982,516 shares of the utilities provider's stock after selling 1,347,468 shares during the quarter. Wellington Management Group LLP owned about 1.55% of Edison International worth $477,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIX. Vanguard Group Inc. raised its position in Edison International by 3.3% during the 4th 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. State Street Corp increased its stake in shares of Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider's stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the period. Geode Capital Management LLC raised its holdings in shares of Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider's stock worth $835,142,000 after purchasing an additional 210,461 shares during the last quarter. Norges Bank purchased a new position in shares of Edison International during the fourth quarter worth $323,443,000. Finally, American Century Companies Inc. lifted its position in Edison International by 2.1% during the fourth quarter. American Century Companies Inc. now owns 3,284,870 shares of the utilities provider's stock valued at $262,264,000 after purchasing an additional 69,074 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Remove Ads

Edison International Price Performance

NYSE:EIX traded down $1.63 during trading hours on Thursday, reaching $58.30. 3,828,856 shares of the company were exchanged, compared to its average volume of 2,870,486. 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 cap of $22.44 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock's 50-day moving average is $54.89 and its 200-day moving average is $71.97.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company 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 $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio is presently 100.30%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EIX shares. Barclays cut their price target on Edison International from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. LADENBURG THALM/SH SH raised Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Guggenheim cut Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Mizuho decreased 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.82.

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.