Wedge Capital Management L L P NC Sells 27,915 Shares of Edison International (NYSE:EIX)

Wedge Capital Management L L P NC trimmed its stake in Edison International (NYSE:EIX) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,651 shares of the utilities provider’s stock after selling 27,915 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Edison International were worth $12,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EIX. Bruce G. Allen Investments LLC bought a new position in Edison International in the fourth quarter valued at approximately $27,000. WASHINGTON TRUST Co lifted its position in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 270 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Edison International by 144.4% in the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after buying an additional 397 shares during the last quarter. Authentikos Wealth Advisory LLC acquired a new stake in shares of Edison International in the third quarter valued at approximately $47,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Edison International in the third quarter valued at approximately $51,000. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group started coverage on Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. Mizuho dropped their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Barclays lifted their price objective on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and lifted their price target for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Edison International currently has an average rating of “Hold” and an average target price of $73.60.

Edison International Trading Up 0.9 %

Shares of NYSE:EIX traded up $0.61 during midday trading on Tuesday, reaching $71.27. The company’s stock had a trading volume of 170,488 shares, compared to its average volume of 2,139,392. The firm has a 50 day moving average price of $68.57 and a two-hundred day moving average price of $67.54. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.92. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The firm has a market capitalization of $27.42 billion, a price-to-earnings ratio of 22.64 and a beta of 0.96.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same period last year, the company posted $1.14 earnings per share. As a group, analysts forecast that Edison International will post 4.98 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.38%. Edison International’s dividend payout ratio (DPR) is 100.00%.

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.