Gabelli Funds LLC Decreases Position in Edison International (NYSE:EIX)

Gabelli Funds LLC trimmed its holdings in Edison International (NYSE:EIX - Free Report) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 349,500 shares of the utilities provider's stock after selling 10,000 shares during the period. Gabelli Funds LLC owned 0.09% of Edison International worth $27,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in shares of Edison International in the 4th quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new position in Edison International in the 4th quarter valued at about $33,000. ST Germain D J Co. Inc. increased 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 purchasing an additional 200 shares during the period. Raleigh Capital Management Inc. boosted 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 valued at $34,000 after purchasing an additional 311 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Edison International by 171.5% in the fourth quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Performance

NYSE:EIX traded down $1.45 during midday trading on Monday, reaching $55.94. The stock had a trading volume of 319,604 shares, compared to its average volume of 2,937,322. 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 stock has a market cap of $21.54 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.07 and a beta of 0.74. The firm has a fifty day simple moving average of $55.47 and a two-hundred day simple moving average of $68.98. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77.

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

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.92%. 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 analysts have commented on EIX shares. JPMorgan Chase & Co. restated a "neutral" rating and issued a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Wells Fargo & Company lowered their price objective on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company 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 target price for the company from $69.00 to $65.00 in a 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 objective for the company in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. 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. Based on data from MarketBeat.com, the stock currently has an average 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.