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

Prudential PLC trimmed its holdings in shares of Edison International (NYSE:EIX) by 35.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 160,026 shares of the utilities provider’s stock after selling 87,795 shares during the period. Prudential PLC’s holdings in Edison International were worth $12,776,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EIX. Crews Bank & Trust purchased a new position in Edison International during the fourth quarter valued at $25,000. Groupama Asset Managment raised its position in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Sierra Ocean LLC bought a new position in Edison International in the 4th quarter worth about $33,000. ST Germain D J Co. Inc. grew its position in 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 purchasing an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in 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 in the last quarter. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Mizuho dropped their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley increased their target price on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group decreased their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Stock Performance

EIX opened at $54.71 on Friday. The company’s 50 day moving average is $54.84 and its 200 day moving average is $71.65. 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 company has a market cap of $21.06 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data 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 business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, equities research analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 6.05%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is currently 100.30%.

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.