Edison International (NYSE:EIX) Position Lessened by Carson Advisory Inc.

Carson Advisory Inc. cut its stake in Edison International (NYSE:EIX) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,473 shares of the utilities provider’s stock after selling 1,231 shares during the quarter. Edison International comprises about 3.0% of Carson Advisory Inc.’s portfolio, making the stock its 5th biggest position. Carson Advisory Inc.’s holdings in Edison International were worth $3,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deutsche Bank AG raised its holdings in Edison International by 266.3% in the 3rd quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock worth $272,725,000 after purchasing an additional 3,132,877 shares during the period. California Public Employees Retirement System raised its holdings in Edison International by 62.1% in the 4th quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock worth $108,236,000 after purchasing an additional 580,117 shares during the period. Clearbridge Investments LLC raised its holdings in Edison International by 8.9% in the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock worth $432,318,000 after purchasing an additional 558,351 shares during the period. Ameriprise Financial Inc. raised its holdings in Edison International by 166.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 750,442 shares of the utilities provider’s stock worth $47,523,000 after purchasing an additional 468,594 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Edison International by 3.3% during the third quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock valued at $622,911,000 after acquiring an additional 317,297 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Up 1.0 %

Edison International stock traded up $0.69 during mid-day trading on Thursday, hitting $71.97. The company’s stock had a trading volume of 2,007,225 shares, compared to its average volume of 2,202,128. The firm has a market capitalization of $27.69 billion, a PE ratio of 31.52 and a beta of 0.94. Edison International has a 1 year low of $58.82 and a 1 year high of $74.41. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86. The stock’s fifty day moving average is $69.24 and its two-hundred day moving average is $67.86.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. Edison International had a return on equity of 12.49% and a net margin of 6.14%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. On average, analysts anticipate that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.34%. Edison International’s payout ratio is 136.84%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank of Canada reduced their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and increased their target price for the company from $66.00 to $84.00 in a report on Monday, January 22nd. The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target for the company. Finally, TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.10.

About Edison International

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.