Fmr LLC Sells 218,889 Shares of Edison International (NYSE:EIX)

Fmr LLC lowered its stake in Edison International (NYSE:EIX) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,581,985 shares of the utilities provider’s stock after selling 218,889 shares during the period. Fmr LLC owned approximately 0.06% of Edison International worth $1,723,106,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC increased its holdings in Edison International by 2.9% in the 3rd quarter. HighTower Advisors LLC now owns 39,237 shares of the utilities provider’s stock valued at $3,404,000 after buying an additional 1,111 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Edison International during the third quarter valued at approximately $1,452,000. IHT Wealth Management LLC bought a new stake in Edison International during the third quarter worth $245,000. Quantinno Capital Management LP boosted its holdings in shares of Edison International by 21.8% in the 3rd quarter. Quantinno Capital Management LP now owns 31,297 shares of the utilities provider’s stock valued at $2,726,000 after purchasing an additional 5,595 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Edison International by 5.2% in the 3rd quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider’s stock valued at $26,973,000 after purchasing an additional 15,181 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX opened at $54.71 on Monday. The business has a 50-day moving average of $54.84 and a 200-day moving average of $71.45. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) 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 during the quarter, compared to analyst estimates of $3.92 billion. As a group, equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm 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 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 yield of 6.05%. Edison International’s payout ratio is currently 100.30%.

Analyst Ratings Changes

EIX has been the subject of several recent analyst reports. UBS Group upgraded 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 report on Tuesday, February 18th. Mizuho dropped their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Barclays lowered their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.82.

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.