Edison International (NYSE:EIX) Stock Position Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in Edison International (NYSE:EIX - Free Report) by 41.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,676,109 shares of the utilities provider's stock after selling 1,890,374 shares during the period. JPMorgan Chase & Co. owned about 0.69% of Edison International worth $213,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Elo Mutual Pension Insurance Co increased its holdings in shares of Edison International by 25.5% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 42,617 shares of the utilities provider's stock worth $3,403,000 after acquiring an additional 8,654 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Edison International by 15.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 633,716 shares of the utilities provider's stock worth $50,571,000 after buying an additional 83,568 shares during the period. Korea Investment CORP boosted its position in shares of Edison International by 79.7% during the fourth quarter. Korea Investment CORP now owns 326,510 shares of the utilities provider's stock worth $26,069,000 after buying an additional 144,858 shares during the period. Ausdal Financial Partners Inc. bought a new position in Edison International in the 4th quarter worth approximately $907,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in Edison International by 1.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 191,109 shares of the utilities provider's stock valued at $15,258,000 after acquiring an additional 2,699 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research analysts have recently commented on EIX shares. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and lowered their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. The Goldman Sachs Group reduced their price target on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Barclays decreased their price objective on shares of Edison International from $67.00 to $65.00 and set an "overweight" rating for the company in a 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. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $76.82.

Edison International Trading Down 2.7 %

EIX stock traded down $1.63 during mid-day trading on Thursday, reaching $58.30. 3,828,842 shares of the stock traded hands, compared to its average volume of 5,650,449. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The stock's fifty day moving average is $54.89 and its 200-day moving average is $71.97. The company has a market cap of $22.44 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS 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. As a group, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.68%. The ex-dividend date is Monday, April 7th. Edison International's payout ratio 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.