Northwest & Ethical Investments L.P. Trims Holdings in Edison International (NYSE:EIX)

Northwest & Ethical Investments L.P. reduced its stake in Edison International (NYSE:EIX) by 29.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 85,373 shares of the utilities provider’s stock after selling 35,873 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Edison International were worth $6,816,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. iA Global Asset Management Inc. boosted its position in shares of Edison International by 31.4% during the fourth quarter. iA Global Asset Management Inc. now owns 15,062 shares of the utilities provider’s stock worth $1,203,000 after buying an additional 3,595 shares during the period. Teacher Retirement System of Texas lifted its stake in Edison International by 242.0% during the 4th quarter. Teacher Retirement System of Texas now owns 17,731 shares of the utilities provider’s stock worth $1,416,000 after acquiring an additional 12,546 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in Edison International by 148.2% during the 4th quarter. Vinva Investment Management Ltd now owns 32,317 shares of the utilities provider’s stock valued at $2,575,000 after acquiring an additional 19,294 shares during the period. Generali Asset Management SPA SGR acquired a new position in Edison International in the 4th quarter valued at about $7,087,000. Finally, Cozad Asset Management Inc. grew its position in Edison International by 26.9% in the 4th quarter. Cozad Asset Management Inc. now owns 3,205 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.7 %

EIX stock opened at $58.92 on Friday. The stock has a market cap of $22.68 billion, a P/E ratio of 17.28, a PEG ratio of 1.07 and a beta of 0.87. 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 twelve month low of $49.06 and a twelve month high of $88.77. The company’s 50 day moving average is $55.37 and its two-hundred day moving average is $73.80.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $3.92 billion. Research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal 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 paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.62%. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent research reports. 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 research note on Wednesday, January 15th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley boosted their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Thursday. Barclays reduced their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Mizuho lowered their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average target price 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.