Edison International (NYSE:EIX) Stake Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in shares of Edison International (NYSE:EIX) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,354,763 shares of the utilities provider’s stock after selling 127,030 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Edison International were worth $188,004,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EIX. Crews Bank & Trust acquired a new stake in Edison International during the 4th quarter worth about $25,000. Larson Financial Group LLC lifted its position in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Edison International during the fourth quarter worth approximately $33,000. Raleigh Capital Management Inc. grew its position in Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 311 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its stake in Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after buying an additional 200 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on EIX shares. Morgan Stanley boosted their price target on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Mizuho lowered their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Price Performance

NYSE EIX opened at $58.20 on Friday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a fifty day simple moving average of $55.00 and a 200 day simple moving average of $72.59. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market cap of $22.41 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.69%. Edison International’s dividend payout ratio is 100.30%.

Edison International Company 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.