Edison International (NYSE:EIX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in shares of Edison International (NYSE:EIX) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 863,409 shares of the utilities provider’s stock after selling 11,238 shares during the period. Jennison Associates LLC’s holdings in Edison International were worth $68,935,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Crews Bank & Trust acquired a new position in shares of Edison International during the 4th quarter worth $25,000. Highline Wealth Partners LLC purchased a new stake in Edison International during the third quarter worth about $26,000. Groupama Asset Managment grew its position in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the period. Eastern Bank purchased a new position in Edison International in the third quarter valued at about $27,000. Finally, Larson Financial Group LLC lifted its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 2.9 %

Shares of Edison International stock opened at $52.44 on Tuesday. Edison International has a fifty-two week low of $51.64 and a fifty-two week high of $88.77. The business’s fifty day moving average is $74.15 and its two-hundred day moving average is $80.32. 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 $20.30 billion, a PE ratio of 15.38, a P/E/G ratio of 1.11 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.31%. Edison International’s dividend payout ratio is 97.07%.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. UBS Group lowered their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group started coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average target price of $82.88.

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.