Magnetar Financial LLC Cuts Position in Edison International (NYSE:EIX)

Magnetar Financial LLC lowered its stake in shares of Edison International (NYSE:EIX - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,391 shares of the utilities provider's stock after selling 5,793 shares during the period. Magnetar Financial LLC's holdings in Edison International were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider's stock valued at $2,834,774,000 after buying an additional 224,337 shares in the last quarter. FMR LLC increased its position in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the last quarter. Geode Capital Management LLC raised its stake in Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider's stock valued at $835,142,000 after purchasing an additional 210,461 shares in the last quarter. Amundi lifted its position in Edison International by 0.3% during the fourth quarter. Amundi now owns 3,118,404 shares of the utilities provider's stock valued at $248,973,000 after purchasing an additional 10,396 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Edison International by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider's stock worth $209,191,000 after buying an additional 32,391 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

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Edison International Trading Up 0.9 %

Shares of NYSE EIX traded up $0.50 during trading hours on Wednesday, reaching $57.75. The stock had a trading volume of 3,243,587 shares, compared to its average volume of 2,673,474. The business's fifty day moving average price is $55.24 and its two-hundred day moving average price is $72.99. The firm has a market cap of $22.24 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. 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 posted its quarterly earnings results 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). The firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 5.73%. Edison International's dividend payout ratio is currently 100.30%.

Wall Street Analyst Weigh In

EIX has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th. Barclays decreased their price objective on Edison International from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Guggenheim cut Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. Finally, Mizuho dropped their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. 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 stock. Based on data from MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.82.

About Edison International

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.