Prudential PLC Lowers Position in Edison International (NYSE:EIX)

Prudential PLC decreased its holdings in shares of Edison International (NYSE:EIX) by 35.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,026 shares of the utilities provider’s stock after selling 87,795 shares during the quarter. Prudential PLC’s holdings in Edison International were worth $12,776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crews Bank & Trust bought a new position in Edison International in the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new position in shares of Edison International in the 4th quarter worth about $33,000. Raleigh Capital Management Inc. increased 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 purchasing an additional 311 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Edison International by 88.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Edison International by 171.5% in the 4th quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider’s stock worth $36,000 after buying an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 6.3 %

Shares of Edison International stock opened at $54.71 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company has a market cap of $21.06 billion, a P/E ratio of 16.04, a PEG ratio of 1.07 and a beta of 0.87. The company’s fifty day simple moving average is $54.84 and its two-hundred day simple moving average is $71.65.

Edison International (NYSE:EIX) last released its quarterly 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). The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Research analysts anticipate 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 will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.05%. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Upgrades and Downgrades

Several research analysts have commented on EIX shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. The Goldman Sachs Group lowered their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley raised their price objective on 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 Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company reduced their price target 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.82.

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.