Edison International (NYSE:EIX) Stake Lowered by Stonnington Group LLC

Stonnington Group LLC reduced its stake in shares of Edison International (NYSE:EIX – Get Rating) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,025 shares of the utilities provider’s stock after selling 2,200 shares during the period. Stonnington Group LLC’s holdings in Edison International were worth $1,707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CI Investments Inc. lifted its stake in shares of Edison International by 980.9% in the 3rd quarter. CI Investments Inc. now owns 508 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 461 shares during the last quarter. Ancora Advisors LLC acquired a new stake in shares of Edison International in the 1st quarter valued at $41,000. Lazard Asset Management LLC lifted its stake in shares of Edison International by 975.7% in the 3rd quarter. Lazard Asset Management LLC now owns 796 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 722 shares during the last quarter. NuWave Investment Management LLC acquired a new position in Edison International during the 3rd quarter worth $45,000. Finally, First Command Bank acquired a new position in Edison International during the 3rd quarter worth $46,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on EIX shares. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of Edison International in a report on Monday, March 6th. Credit Suisse Group dropped their price target on shares of Edison International from $68.00 to $67.00 and set a “neutral” rating for the company in a research report on Friday, February 24th. JPMorgan Chase & Co. increased their price target on shares of Edison International from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and increased their price target for the stock from $69.00 to $75.00 in a research report on Tuesday, January 3rd. Finally, Morgan Stanley dropped their price target on shares of Edison International from $57.00 to $54.00 and set an “underweight” rating for the company in a research report on Wednesday, February 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.64.

Edison International Stock Performance

NYSE EIX opened at $67.76 on Friday. The firm has a market cap of $25.92 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 4.92 and a beta of 0.78. The company has a 50 day moving average of $67.51 and a 200-day moving average of $64.47. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.74. Edison International has a 1-year low of $54.45 and a 1-year high of $73.32.

Edison International (NYSE:EIX – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.08 by $0.07. Edison International had a net margin of 4.48% and a return on equity of 12.05%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, equities analysts forecast that Edison International will post 4.72 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.7375 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.95 annualized dividend and a dividend yield of 4.35%. Edison International’s dividend payout ratio (DPR) is currently 184.38%.

Edison International Company Profile

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.