Verition Fund Management LLC reduced its position in Edison International (NYSE:EIX) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,889 shares of the utilities provider’s stock after selling 4,171 shares during the quarter. Verition Fund Management LLC’s holdings in Edison International were worth $2,333,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in EIX. Cerebellum GP LLC bought a new stake in Edison International in the fourth quarter valued at about $116,000. Captrust Financial Advisors bought a new stake in Edison International in the fourth quarter valued at about $126,000. Amica Retiree Medical Trust bought a new stake in Edison International in the third quarter valued at about $138,000. First Command Financial Services Inc. bought a new stake in Edison International in the fourth quarter valued at about $154,000. Finally, Advisory Services Network LLC increased its holdings in Edison International by 1,842.3% in the fourth quarter. Advisory Services Network LLC now owns 2,661 shares of the utilities provider’s stock valued at $168,000 after buying an additional 2,524 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.
NYSE:EIX opened at $63.38 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.53 and a quick ratio of 0.49. The company has a market cap of $20,741.14, a PE ratio of 14.21, a P/E/G ratio of 2.79 and a beta of 0.13. Edison International has a 52 week low of $57.63 and a 52 week high of $83.38.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.17. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $2.98 billion. Edison International had a return on equity of 10.86% and a net margin of 5.59%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share. equities research analysts anticipate that Edison International will post 4.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.605 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.42 annualized dividend and a dividend yield of 3.82%. Edison International’s dividend payout ratio is presently 53.78%.
Several analysts recently weighed in on the company. Morgan Stanley reissued an “equal weight” rating and issued a $69.00 price objective (down from $72.00) on shares of Edison International in a report on Thursday, March 8th. Edward Jones raised Edison International from a “sell” rating to a “hold” rating in a report on Thursday. Goldman Sachs set a $70.00 price objective on Edison International and gave the company a “hold” rating in a report on Friday, December 15th. Zacks Investment Research lowered Edison International from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $74.00 price objective on shares of Edison International in a report on Friday, December 22nd. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and a consensus price target of $76.86.
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About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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