Bank of New York Mellon Corp Sells 19,939 Shares of Edison International (NYSE:EIX)

Bank of New York Mellon Corp cut its position in Edison International (NYSE:EIX – Get Rating) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,019,127 shares of the utilities provider’s stock after selling 19,939 shares during the period. Bank of New York Mellon Corp’s holdings in Edison International were worth $170,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in EIX. CI Investments Inc. raised its stake in shares of Edison International by 980.9% during the 3rd quarter. CI Investments Inc. now owns 508 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 461 shares during the period. Ancora Advisors LLC bought a new stake in shares of Edison International during the 1st quarter valued at $41,000. Lazard Asset Management LLC raised its stake in shares of Edison International by 975.7% during the 3rd quarter. Lazard Asset Management LLC now owns 796 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 722 shares during the period. NuWave Investment Management LLC bought a new stake in shares of Edison International during the 3rd quarter valued at $45,000. Finally, First Command Bank bought a new stake in shares of Edison International during the 3rd quarter valued at $46,000. 87.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EIX shares. StockNews.com started coverage on Edison International in a research note on Thursday. They set a “hold” rating on the stock. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and upped their target price for the stock from $69.00 to $75.00 in a research note on Tuesday, January 3rd. Wells Fargo & Company lowered Edison International from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $76.00 to $73.00 in a research note on Wednesday, February 1st. Morgan Stanley decreased their target price on Edison International from $57.00 to $54.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 22nd. Finally, JPMorgan Chase & Co. upped their target price on Edison International from $72.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.64.

Edison International Stock Down 1.8 %

Shares of EIX opened at $67.76 on Friday. The firm has a market cap of $25.92 billion, a P/E ratio of 42.35, a P/E/G ratio of 4.87 and a beta of 0.78. The stock has a 50 day simple moving average of $67.51 and a two-hundred day simple moving average of $64.50. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.68 and a quick ratio of 0.64. Edison International has a 1 year low of $54.45 and a 1 year high of $73.32.

Edison International (NYSE:EIX – Get Rating) last issued its earnings results on Thursday, February 23rd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.07. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.61 billion. Edison International had a return on equity of 12.05% and a net margin of 4.48%. During the same quarter in the prior year, the firm earned $1.16 earnings per share. On average, analysts forecast that Edison International will post 4.72 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Friday, March 31st will be paid a $0.7375 dividend. This represents a $2.95 annualized dividend and a yield of 4.35%. The ex-dividend date is Thursday, March 30th. Edison International’s dividend payout ratio is currently 184.38%.

Edison International Company Profile

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.