National Pension Service Sells 46,735 Shares of Edison International (NYSE:EIX)

National Pension Service reduced its stake in shares of Edison International (NYSE:EIX) by 8.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 520,314 shares of the utilities provider’s stock after selling 46,735 shares during the period. National Pension Service owned about 0.13% of Edison International worth $41,542,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in shares of Edison International in the 4th quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Edison International in the 3rd quarter worth approximately $32,000. Darwin Wealth Management LLC purchased a new position in shares of Edison International in the 3rd quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Edison International in the 4th quarter worth approximately $33,000. 88.95% of the stock is owned by institutional investors.

Edison International Trading Up 6.0 %

Shares of EIX stock opened at $54.45 on Friday. The company’s fifty day simple moving average is $61.38 and its two-hundred day simple moving average is $76.50. 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 has a 1 year low of $49.06 and a 1 year high of $88.77. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.07 and a beta of 0.90.

Edison International (NYSE:EIX) last issued its 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 net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. As a group, analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced 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 6.08%. Edison International’s payout ratio is 97.07%.

Analyst Ratings Changes

EIX has been the topic of a number of research analyst reports. Barclays cut their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company dropped their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.75.

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.