Renaissance Technologies LLC Cuts Position in Edison International (NYSE:EIX)

Renaissance Technologies LLC reduced its stake in shares of Edison International (NYSE:EIX) by 44.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 336,325 shares of the utilities provider’s stock after selling 269,275 shares during the period. Renaissance Technologies LLC owned approximately 0.09% of Edison International worth $26,852,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC grew its holdings in shares of Edison International by 16.9% in the 3rd quarter. Barclays PLC now owns 918,489 shares of the utilities provider’s stock worth $79,991,000 after acquiring an additional 132,749 shares during the period. Coldstream Capital Management Inc. grew its holdings in Edison International by 5.3% in the third quarter. Coldstream Capital Management Inc. now owns 8,426 shares of the utilities provider’s stock valued at $732,000 after purchasing an additional 421 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Edison International in the third quarter valued at $1,791,000. Sanctuary Advisors LLC increased its position in shares of Edison International by 11.9% in the third quarter. Sanctuary Advisors LLC now owns 31,940 shares of the utilities provider’s stock valued at $2,762,000 after buying an additional 3,389 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Edison International during the 3rd quarter worth $221,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EIX. Barclays dropped their target price on shares of Edison International from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Morgan Stanley raised their price objective on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. The Goldman Sachs Group cut their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.75.

Edison International Trading Up 1.3 %

NYSE EIX opened at $56.12 on Friday. The company has a market cap of $21.61 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.07 and a beta of 0.74. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a 50-day moving average of $54.86 and a 200-day moving average of $70.15.

Edison International (NYSE:EIX) last issued its quarterly 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 company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, equities analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is currently 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.