Edison International (NYSE:EIX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in Edison International (NYSE:EIX) by 41.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,676,109 shares of the utilities provider’s stock after selling 1,890,374 shares during the period. JPMorgan Chase & Co.’s holdings in Edison International were worth $213,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. Crews Bank & Trust acquired a new stake in Edison International in the fourth quarter valued at $25,000. Groupama Asset Managment increased its position in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Edison International in the 4th quarter valued at about $33,000. ST Germain D J Co. Inc. lifted its position in shares of Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in Edison International by 285.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 311 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on EIX shares. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Morgan Stanley raised their price objective on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Mizuho dropped their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Price Performance

Shares of NYSE:EIX opened at $58.95 on Tuesday. The firm’s 50 day moving average is $54.93 and its two-hundred day moving average is $72.24. The firm has a market capitalization of $22.70 billion, a P/E ratio of 17.29, a PEG ratio of 1.07 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

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 business 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%. Analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend 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.