Edison International (NYSE:EIX) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in shares of Edison International (NYSE:EIX) by 9.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 777,848 shares of the utilities provider’s stock after selling 76,749 shares during the period. Nuveen Asset Management LLC’s holdings in Edison International were worth $62,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EIX. Crews Bank & Trust acquired a new position in Edison International during the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new position in Edison International during the 4th quarter worth approximately $33,000. Raleigh Capital Management Inc. lifted its position in Edison International by 285.3% during the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 311 shares in the last quarter. Bellwether Advisors LLC acquired a new position in Edison International during the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management acquired a new position in Edison International during the 4th quarter worth approximately $38,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

EIX stock opened at $58.62 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market cap of $22.55 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.07 and a beta of 0.77. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The stock’s 50 day simple moving average is $56.81 and its 200 day simple moving average is $65.07.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. The business had revenue of $3.81 billion for 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%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 EPS. As a group, equities research analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Monday, April 7th. Edison International’s dividend payout ratio is currently 46.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EIX shares. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Edison International in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Mizuho cut their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average price target of $76.96.

Edison International Company 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.