Nebula Research & Development LLC Reduces Position in Edison International (NYSE:EIX)

Nebula Research & Development LLC trimmed its holdings in Edison International (NYSE:EIX - Free Report) by 42.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,896 shares of the utilities provider's stock after selling 9,443 shares during the quarter. Nebula Research & Development LLC's holdings in Edison International were worth $1,030,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIX. Kovitz Investment Group Partners LLC bought a new stake in shares of Edison International during the fourth quarter worth $453,000. Integrated Wealth Concepts LLC lifted its holdings in Edison International by 9.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 19,952 shares of the utilities provider's stock valued at $1,593,000 after buying an additional 1,753 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its position in Edison International by 37.5% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 30,350 shares of the utilities provider's stock valued at $2,423,000 after buying an additional 8,280 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in Edison International by 6.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 36,853 shares of the utilities provider's stock worth $2,942,000 after acquiring an additional 2,361 shares in the last quarter. Finally, MGO One Seven LLC increased its position in shares of Edison International by 37.0% during the fourth quarter. MGO One Seven LLC now owns 8,764 shares of the utilities provider's stock worth $700,000 after acquiring an additional 2,368 shares during the period. 88.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EIX. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Barclays decreased their price objective on Edison International from $65.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. LADENBURG THALM/SH SH upgraded shares of 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, Mizuho lowered their price target on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Edison International presently has an average rating of "Moderate Buy" and an average target price of $76.75.

Edison International Stock Performance

EIX opened at $57.95 on Friday. The company has a market cap of $22.31 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. 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 firm's 50-day moving average price is $56.12 and its 200-day moving average price is $68.14. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. As a group, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.71%. Edison International's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.