Fmr LLC Sells 218,889 Shares of Edison International (NYSE:EIX)

FMR LLC decreased its position in shares of Edison International (NYSE:EIX - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,581,985 shares of the utilities provider's stock after selling 218,889 shares during the quarter. FMR LLC owned about 5.57% of Edison International worth $1,723,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust acquired a new stake in Edison International during the fourth quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Edison International in the 4th quarter valued at $33,000. Raleigh Capital Management Inc. lifted its position in shares of Edison International by 285.3% during the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 311 shares during the period. ST Germain D J Co. Inc. boosted its stake 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 in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Edison International by 171.5% in the fourth quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider's stock worth $36,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Price Performance

Shares of Edison International stock traded up $0.72 during trading on Friday, hitting $56.12. The stock had a trading volume of 2,085,321 shares, compared to its average volume of 2,926,745. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.07 and a beta of 0.74. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The business's 50-day moving average is $54.86 and its 200 day moving average is $70.15. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

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Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $3.92 billion. As a group, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced 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 5.90%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analyst Weigh In

EIX has been the subject of several research reports. Morgan Stanley raised their target price on Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Wells Fargo & Company lowered their target price 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. UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. 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 report on Wednesday, January 15th. Finally, Barclays decreased their target price on shares of Edison International from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.75.

Edison International Company 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.