Swiss National Bank Lowers Stock Position in Edison International (NYSE:EIX)

Swiss National Bank trimmed its stake in Edison International (NYSE:EIX) by 4.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,090,900 shares of the utilities provider’s stock after selling 51,000 shares during the period. Swiss National Bank’s holdings in Edison International were worth $87,097,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. FMR LLC raised its position in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Raymond James Financial Inc. acquired a new position in Edison International during the 4th quarter worth about $39,344,000. AustralianSuper Pty Ltd purchased a new position in Edison International during the 4th quarter valued at about $31,877,000. Victory Capital Management Inc. grew its position in Edison International by 74.6% in the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock valued at $72,379,000 after acquiring an additional 387,215 shares in the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in Edison International by 565.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock worth $27,400,000 after purchasing an additional 291,619 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of NYSE EIX opened at $57.01 on Friday. The stock’s 50-day simple moving average is $56.56 and its 200-day simple moving average is $74.55. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $21.95 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a fifty-two week low of $49.06 and a fifty-two week 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 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 analysts’ expectations of $3.92 billion. As a group, equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.81%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EIX. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Morgan Stanley dropped their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. The Goldman Sachs Group reduced their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Barclays lowered their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.54.

About Edison International

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.