Capital Research Global Investors Reduces Stake in Edison International (NYSE:EIX)

Capital Research Global Investors trimmed its holdings in shares of Edison International (NYSE:EIX - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,431,908 shares of the utilities provider's stock after selling 565,523 shares during the quarter. Capital Research Global Investors owned 4.76% of Edison International worth $1,471,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after acquiring an additional 1,559,501 shares in the last quarter. Geode Capital Management LLC increased its stake in Edison International by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock valued at $795,123,000 after purchasing an additional 362,999 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Edison International by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock worth $409,865,000 after buying an additional 50,451 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Edison International by 38.2% during the fourth quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock worth $384,560,000 after buying an additional 1,331,941 shares during the period. Finally, Norges Bank purchased a new stake in shares of Edison International during the fourth quarter valued at $323,443,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on EIX shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and dropped their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH raised 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 report on Wednesday, January 15th. Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. One equities research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $76.75.

Edison International Price Performance

Shares of Edison International stock traded up $0.35 on Thursday, reaching $58.51. The company's stock had a trading volume of 1,122,068 shares, compared to its average volume of 2,950,823. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $22.53 billion, a P/E ratio of 17.16, a PEG ratio of 1.07 and a beta of 0.74. The stock has a 50-day moving average price of $55.82 and a 200-day moving average price of $68.62. 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 released its 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 net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion during the quarter, compared to analysts' expectations of $3.92 billion. Analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

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

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.