Renaissance Technologies LLC cut its holdings in Edison International (NYSE:EIX - Free Report) by 44.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 336,325 shares of the utilities provider's stock after selling 269,275 shares during the period. Renaissance Technologies LLC owned 0.09% of Edison International worth $26,852,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia grew its holdings in shares of Edison International by 390.8% in the fourth quarter. Bank of Nova Scotia now owns 242,233 shares of the utilities provider's stock valued at $19,340,000 after purchasing an additional 192,882 shares in the last quarter. Invesco Ltd. increased its stake in Edison International by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock worth $384,560,000 after purchasing an additional 1,331,941 shares during the period. Bank of Montreal Can lifted its holdings in Edison International by 4.5% during the 4th quarter. Bank of Montreal Can now owns 751,731 shares of the utilities provider's stock valued at $60,018,000 after buying an additional 32,317 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Edison International by 5,334.4% during the fourth quarter. Federated Hermes Inc. now owns 266,668 shares of the utilities provider's stock valued at $21,291,000 after acquiring an additional 261,761 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Edison International during the 4th quarter valued at $255,000. 88.95% of the stock is owned by institutional investors.
Edison International Stock Performance
Edison International stock traded up $1.04 during trading hours on Friday, reaching $57.37. 2,010,297 shares of the stock were exchanged, compared to its average volume of 2,934,922. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The stock has a market cap of $22.09 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.07 and a beta of 0.74. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm's 50 day moving average is $55.34 and its 200 day moving average is $69.44.
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 return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Analysts predict that Edison International will post 4.95 EPS for the current fiscal year.
Edison International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.77%. Edison International's dividend payout ratio (DPR) is presently 100.30%.
Analysts Set New Price Targets
Several research firms have commented on EIX. Guggenheim lowered shares of Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Morgan Stanley lifted their price target on Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.75.
Check Out Our Latest Analysis on Edison International
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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