Capital International Investors Sells 626,562 Shares of Edison International (NYSE:EIX)

Capital International Investors decreased its position in Edison International (NYSE:EIX) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,801,953 shares of the utilities provider’s stock after selling 626,562 shares during the period. Capital International Investors owned approximately 1.76% of Edison International worth $543,039,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of EIX. Vanguard Group Inc. lifted its stake in shares of Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the period. Geode Capital Management LLC grew its stake in Edison International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock worth $795,123,000 after purchasing an additional 362,999 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Edison International by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock worth $409,865,000 after purchasing an additional 50,451 shares in the last quarter. Invesco Ltd. lifted its stake in Edison International by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider’s stock valued at $384,560,000 after buying an additional 1,331,941 shares during the period. Finally, Norges Bank bought a new position in shares of Edison International during the 4th quarter worth approximately $323,443,000. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

EIX has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Wells Fargo & Company reduced their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, Barclays reduced their price objective on Edison International from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

Edison International Stock Up 1.8 %

EIX opened at $57.37 on Friday. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The firm has a market capitalization of $22.09 billion, a P/E ratio of 16.82, a PEG ratio of 1.07 and a beta of 0.74. The company’s 50-day moving average is $55.47 and its 200 day moving average is $69.23. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last posted 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 firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.77%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.