Edison International (NYSE:EIX) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in shares of Edison International (NYSE:EIX) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Deutsche Bank AG raised its stake in Edison International by 266.3% in the 3rd quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock valued at $272,725,000 after purchasing an additional 3,132,877 shares during the last quarter. Clearbridge Investments LLC raised its stake in Edison International by 8.9% in the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock valued at $432,318,000 after purchasing an additional 558,351 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Edison International by 166.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 750,442 shares of the utilities provider’s stock valued at $47,523,000 after purchasing an additional 468,594 shares during the last quarter. Wellington Management Group LLP raised its stake in Edison International by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock valued at $622,911,000 after purchasing an additional 317,297 shares during the last quarter. Finally, UBS Group AG grew its holdings in Edison International by 80.0% in the 3rd quarter. UBS Group AG now owns 686,253 shares of the utilities provider’s stock valued at $43,433,000 after buying an additional 304,926 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $84.00 in a report on Monday, January 22nd. Barclays upped their target price on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Royal Bank of Canada dropped their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, Mizuho lowered their price target on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Edison International currently has a consensus rating of “Hold” and a consensus price target of $73.60.

Edison International Trading Up 0.9 %

Edison International stock traded up $0.61 during midday trading on Tuesday, reaching $71.27. 170,488 shares of the stock traded hands, compared to its average volume of 2,139,392. The company has a 50-day simple moving average of $68.57 and a two-hundred day simple moving average of $67.54. Edison International has a 12-month low of $58.82 and a 12-month high of $74.92. The firm has a market cap of $27.42 billion, a PE ratio of 22.64 and a beta of 0.96. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. The company 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 quarter last year, the company earned $1.14 EPS. Research analysts expect that Edison International will post 4.98 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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

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.