Edison International (NYSE:EIX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its position in Edison International (NYSE:EIX) by 16.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,196,173 shares of the utilities provider’s stock after selling 243,089 shares during the quarter. Jennison Associates LLC’s holdings in Edison International were worth $85,514,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of EIX. First Trust Direct Indexing L.P. grew its stake in shares of Edison International by 2.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 162 shares during the period. Axxcess Wealth Management LLC grew its stake in shares of Edison International by 2.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock worth $409,000 after purchasing an additional 164 shares during the period. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Edison International by 3.9% during the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 165 shares during the period. Greenleaf Trust grew its stake in shares of Edison International by 2.9% during the 3rd quarter. Greenleaf Trust now owns 6,481 shares of the utilities provider’s stock worth $410,000 after purchasing an additional 185 shares during the period. Finally, Cable Hill Partners LLC grew its stake in shares of Edison International by 6.0% during the 3rd quarter. Cable Hill Partners LLC now owns 3,336 shares of the utilities provider’s stock worth $211,000 after purchasing an additional 190 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Edison International stock opened at $70.64 on Tuesday. Edison International has a 12-month low of $58.82 and a 12-month high of $74.92. The stock has a market capitalization of $27.17 billion, a P/E ratio of 22.64 and a beta of 0.96. The firm’s 50-day moving average is $68.57 and its two-hundred day moving average is $67.54. 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 (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.12. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same period in the prior year, the firm posted $1.14 EPS. Equities 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. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 annualized dividend and a dividend yield of 4.42%. Edison International’s payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. The Goldman Sachs Group began coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective on the stock. Royal Bank of Canada lowered their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. Finally, StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.60.

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.