Edison International (NYSE:EIX) Shares Sold by PFG Investments LLC

PFG Investments LLC lowered its position in Edison International (NYSE:EIX) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,901 shares of the utilities provider’s stock after selling 194 shares during the period. PFG Investments LLC’s holdings in Edison International were worth $422,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Edison International by 1.7% in the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after acquiring an additional 731,841 shares during the period. BlackRock Inc. raised its position in shares of Edison International by 2.6% during the 2nd quarter. BlackRock Inc. now owns 37,085,024 shares of the utilities provider’s stock worth $2,575,555,000 after purchasing an additional 946,430 shares during the last quarter. State Street Corp raised its position in shares of Edison International by 0.9% during the 2nd quarter. State Street Corp now owns 28,623,789 shares of the utilities provider’s stock worth $1,987,922,000 after purchasing an additional 244,115 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Edison International by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider’s stock worth $842,826,000 after purchasing an additional 197,259 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Edison International by 3.3% during the 3rd quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock worth $622,911,000 after purchasing an additional 317,297 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Up 1.7 %

Shares of NYSE EIX opened at $69.39 on Thursday. The company has a 50 day simple moving average of $67.53 and a 200-day simple moving average of $67.19. The company has a market capitalization of $26.69 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.30 and a beta of 0.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same quarter last year, the firm earned $1.14 EPS. On average, equities research analysts predict that Edison International will post 4.98 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.50%. Edison International’s payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EIX. Royal Bank of Canada reduced their price target on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. TheStreet downgraded shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Mizuho reduced their price target on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Barclays increased their price objective on shares of Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.50.

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.