Envestnet Asset Management Inc. lessened its holdings in Edison International (NYSE:EIX - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 487,197 shares of the utilities provider's stock after selling 6,827 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Edison International worth $38,898,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in EIX. Crews Bank & Trust purchased a new position in shares of Edison International in the fourth quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Edison International in the fourth quarter valued at about $33,000. Raleigh Capital Management Inc. lifted its stake in shares of 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 in the last quarter. ST Germain D J Co. Inc. boosted its position in Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Edison International by 171.5% in the 4th quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider's stock worth $36,000 after purchasing an additional 283 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.
Edison International Stock Down 0.6 %
Shares of NYSE:EIX traded down $0.34 during trading on Tuesday, hitting $56.88. The company's stock had a trading volume of 2,076,092 shares, compared to its average volume of 2,925,393. The company has a market capitalization of $21.90 billion, a PE ratio of 16.68, a P/E/G ratio of 1.07 and a beta of 0.74. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The business has a 50 day moving average price of $54.95 and a two-hundred day moving average price of $69.83.
Edison International (NYSE:EIX - Get Free Report) last issued 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 analysts' expectations of $3.92 billion. As a group, research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.
Edison International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued 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 5.82%. Edison International's payout ratio is 100.30%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on EIX. Wells Fargo & Company dropped their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Morgan Stanley increased their price objective on Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Mizuho lowered their price target on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Barclays reduced their price objective on shares of Edison International from $65.00 to $64.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Edison International currently has an average rating of "Moderate Buy" and an average target price of $76.75.
Check Out Our Latest Stock Report on EIX
About Edison International
(
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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