Deutsche Bank AG cut its stake in shares of Edison International (NYSE:EIX) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,789,949 shares of the utilities provider’s stock after selling 160,549 shares during the period. Deutsche Bank AG’s holdings in Edison International were worth $158,377,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of EIX. Vanguard Group Inc increased its stake in Edison International by 1.6% in the third quarter. Vanguard Group Inc now owns 24,922,577 shares of the utilities provider’s stock valued at $1,686,760,000 after acquiring an additional 392,144 shares during the last quarter. Macquarie Group Ltd. increased its stake in Edison International by 11.3% in the fourth quarter. Macquarie Group Ltd. now owns 13,067,013 shares of the utilities provider’s stock valued at $741,814,000 after acquiring an additional 1,324,950 shares during the last quarter. Capital International Investors increased its stake in Edison International by 327.4% in the third quarter. Capital International Investors now owns 11,136,310 shares of the utilities provider’s stock valued at $753,705,000 after acquiring an additional 8,530,510 shares during the last quarter. FMR LLC increased its stake in Edison International by 97.6% in the fourth quarter. FMR LLC now owns 5,520,041 shares of the utilities provider’s stock valued at $313,373,000 after acquiring an additional 2,726,761 shares during the last quarter. Finally, Boston Partners increased its stake in Edison International by 16.1% in the fourth quarter. Boston Partners now owns 5,358,938 shares of the utilities provider’s stock valued at $304,227,000 after acquiring an additional 741,916 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.
A number of research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Thursday, January 24th. Wells Fargo & Co decreased their price objective on shares of Edison International from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, December 10th. Mizuho lifted their price objective on shares of Edison International from $57.00 to $66.50 and gave the company a “buy” rating in a research note on Thursday, March 14th. ValuEngine raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Citigroup lifted their price objective on shares of Edison International to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Edison International presently has a consensus rating of “Hold” and a consensus target price of $69.05.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). Edison International had a positive return on equity of 10.47% and a negative net margin of 2.45%. During the same quarter in the prior year, the firm posted $1.10 EPS. As a group, sell-side analysts predict that Edison International will post 4.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.6125 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.91%. Edison International’s payout ratio is presently 59.04%.
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Edison International Company Profile
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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