Alliancebernstein L.P. Reduces Stock Position in Edison International (NYSE:EIX)

Alliancebernstein L.P. decreased its position in shares of Edison International (NYSE:EIX) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,757 shares of the utilities provider’s stock after selling 4,696 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Edison International worth $34,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Crews Bank & Trust purchased a new stake in Edison International during the fourth quarter worth $25,000. Groupama Asset Managment raised its stake in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Edison International in the 4th quarter worth about $33,000. ST Germain D J Co. Inc. grew 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 acquiring an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in Edison International by 285.3% during the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 311 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on EIX shares. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Wells Fargo & Company reduced 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. Barclays dropped their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group dropped 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Price Performance

EIX opened at $54.71 on Friday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company’s 50 day simple moving average is $54.84 and its 200 day simple moving average is $71.55. The stock has a market capitalization of $21.06 billion, a PE ratio of 16.04, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 6.05%. Edison International’s dividend payout ratio 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.