Edison International (NYSE:EIX) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. trimmed its stake in shares of Edison International (NYSE:EIX) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,330 shares of the utilities provider’s stock after selling 1,281 shares during the quarter. Shell Asset Management Co.’s holdings in Edison International were worth $4,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in Edison International in the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new position in Edison International in the fourth quarter valued at about $33,000. Raleigh Capital Management Inc. lifted its position in shares of Edison International by 285.3% during the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 311 shares during the period. Bellwether Advisors LLC purchased a new stake in shares of Edison International during the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Edison International in the 4th quarter worth approximately $38,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EIX. Morgan Stanley reissued an “overweight” rating on shares of Edison International in a research report on Wednesday, April 23rd. Mizuho decreased their price objective on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Barclays raised their price objective on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.96.

Edison International Stock Up 2.2%

Shares of Edison International stock opened at $57.60 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market cap of $22.16 billion, a P/E ratio of 16.89, a P/E/G ratio of 1.07 and a beta of 0.77. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The business has a 50-day moving average price of $56.76 and a 200 day moving average price of $65.48.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. On average, sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend was Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 46.95%.

About Edison International

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.