Edison International (NYSE:EIX) Position Lessened by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of Edison International (NYSE:EIX) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,982,516 shares of the utilities provider’s stock after selling 1,347,468 shares during the quarter. Wellington Management Group LLP’s holdings in Edison International were worth $477,644,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Crews Bank & Trust acquired a new position in shares of Edison International during the fourth quarter valued at $25,000. Groupama Asset Managment lifted its position in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. Sierra Ocean LLC acquired a new position in Edison International during the 4th quarter valued at about $33,000. ST Germain D J Co. Inc. grew its position in Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in shares of Edison International by 285.3% in the fourth 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 during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EIX. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price target 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. Barclays lowered their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company reduced their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Price Performance

NYSE EIX opened at $58.95 on Tuesday. The stock has a market capitalization of $22.70 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.07 and a beta of 0.87. 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 business’s fifty day moving average is $54.93 and its two-hundred day moving average is $72.24. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, research analysts forecast that Edison International will post 4.95 earnings per share 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 given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 100.30%.

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.