Northwest & Ethical Investments L.P. cut its holdings in shares of Edison International (NYSE:EIX - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,373 shares of the utilities provider's stock after selling 35,873 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Edison International were worth $6,816,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in EIX. Crews Bank & Trust bought a new stake in Edison International during the 4th quarter valued at $25,000. Groupama Asset Managment grew its position in shares of Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC purchased a new stake in Edison International during the 3rd quarter worth about $32,000. Finally, Sierra Ocean LLC bought a new position in Edison International in the 4th quarter worth about $33,000. 88.95% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and decreased their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered their target price on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Mizuho reduced 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. Morgan Stanley increased their price objective on Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company reduced their target price 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.82.
View Our Latest Stock Report on EIX
Edison International Trading Down 2.4 %
Shares of Edison International stock traded down $1.41 during trading on Tuesday, reaching $57.18. The company's stock had a trading volume of 3,200,047 shares, compared to its average volume of 2,663,878. The company has a market cap of $22.02 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.07 and a beta of 0.87. The firm's 50-day moving average is $55.27 and its two-hundred day moving average is $73.20. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.
Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current year.
Edison International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Monday, April 7th. Edison International's dividend payout ratio (DPR) is presently 100.30%.
About Edison International
(
Free Report)
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.
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