Prudential PLC Sells 87,795 Shares of Edison International (NYSE:EIX)

Prudential PLC trimmed its holdings in shares of Edison International (NYSE:EIX - Free Report) by 35.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 160,026 shares of the utilities provider's stock after selling 87,795 shares during the quarter. Prudential PLC's holdings in Edison International were worth $12,776,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. OneAscent Financial Services LLC bought a new position in shares of Edison International during the 4th quarter worth approximately $683,000. Bryce Point Capital LLC bought a new stake in Edison International in the fourth quarter valued at approximately $538,000. Huntington National Bank lifted its holdings in Edison International by 7.0% during the 4th quarter. Huntington National Bank now owns 5,366 shares of the utilities provider's stock valued at $428,000 after purchasing an additional 353 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Edison International by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock valued at $409,865,000 after purchasing an additional 50,451 shares during the period. Finally, RFG Bristol Wealth Advisors LLC acquired a new stake in shares of Edison International during the 4th quarter worth about $457,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EIX shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Guggenheim lowered shares of Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Finally, UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $76.75.

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Edison International Trading Down 2.6 %

EIX stock traded down $1.47 during mid-day trading on Thursday, reaching $54.59. The company's stock had a trading volume of 836,411 shares, compared to its average volume of 2,911,591. The company has a market cap of $21.02 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. Edison International has a 12 month low of $49.06 and a 12 month 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. The business's 50 day moving average price is $54.71 and its 200 day moving average price is $70.57.

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 (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. On average, equities research analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

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 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 yield of 6.06%. Edison International's payout ratio is currently 100.30%.

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.