Edison International (NYSE:EIX) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in Edison International (NYSE:EIX – Get Rating) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,097 shares of the utilities provider’s stock after selling 355 shares during the quarter. HighTower Advisors LLC’s holdings in Edison International were worth $2,357,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EIX. Dimensional Fund Advisors LP raised its stake in shares of Edison International by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,234,491 shares of the utilities provider’s stock valued at $86,534,000 after acquiring an additional 137,840 shares during the period. Aviva PLC raised its stake in shares of Edison International by 21.5% in the 1st quarter. Aviva PLC now owns 151,158 shares of the utilities provider’s stock valued at $10,596,000 after acquiring an additional 26,797 shares during the period. Prudential PLC purchased a new position in shares of Edison International in the 1st quarter valued at $688,000. Cetera Investment Advisers raised its stake in shares of Edison International by 30.5% in the 1st quarter. Cetera Investment Advisers now owns 6,916 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 1,617 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Edison International by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock valued at $3,121,569,000 after acquiring an additional 731,841 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Edison International Trading Down 0.5 %

NYSE EIX opened at $67.37 on Wednesday. Edison International has a one year low of $54.45 and a one year high of $74.92. The company has a 50-day simple moving average of $71.19 and a 200-day simple moving average of $67.64. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.80 and a current ratio of 0.86. The firm has a market capitalization of $25.80 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 3.68 and a beta of 0.80.

Edison International (NYSE:EIX – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.04 by $0.05. Edison International had a net margin of 6.12% and a return on equity of 12.48%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the business posted $1.07 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that Edison International will post 4.72 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Shareholders of record on Friday, March 31st were paid a dividend of $0.7375 per share. This represents a $2.95 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Thursday, March 30th. Edison International’s payout ratio is 134.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Credit Suisse Group cut their target price on shares of Edison International from $68.00 to $67.00 and set a “neutral” rating on the stock in a research note on Friday, February 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 price target on shares of Edison International in a research note on Monday, March 6th. Mizuho lifted their price target on shares of Edison International from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 10th. StockNews.com initiated coverage on shares of Edison International in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Citigroup lifted their price target on shares of Edison International from $79.00 to $86.00 in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Edison International currently has an average rating of “Hold” and an average price target of $73.08.

Insider Buying and Selling at Edison International

In other Edison International news, SVP J Andrew Murphy sold 22,471 shares of the business’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $72.03, for a total transaction of $1,618,586.13. Following the completion of the transaction, the senior vice president now directly owns 12,989 shares of the company’s stock, valued at approximately $935,597.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is currently owned by company insiders.

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.