Edison International (NYSE:EIX) Stake Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in Edison International (NYSE:EIX) by 5.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,354,763 shares of the utilities provider’s stock after selling 127,030 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.61% of Edison International worth $188,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Jamison Private Wealth Management Inc. lifted its position in Edison International by 2.6% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after purchasing an additional 174 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Edison International by 2.9% in the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 176 shares during the period. Old Port Advisors raised its holdings in shares of Edison International by 0.9% during the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock valued at $1,540,000 after buying an additional 180 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Edison International by 125.0% during the third 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 period. Finally, Centre Asset Management LLC grew its holdings in Edison International by 8.1% in the 4th quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock worth $212,000 after buying an additional 199 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

EIX has been the subject of a number of analyst reports. Barclays reduced their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a report on Wednesday, January 15th. Morgan Stanley raised their target price on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Trading Up 1.6 %

Edison International stock opened at $58.20 on Friday. The firm has a market cap of $22.41 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The firm’s 50 day moving average price is $55.00 and its two-hundred day moving average price is $72.59. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

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 return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. On average, research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

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.