Prudential Financial Inc. Sells 190,059 Shares of Edison International (NYSE:EIX)

Prudential Financial Inc. cut its holdings in Edison International (NYSE:EIX) by 47.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 209,571 shares of the utilities provider’s stock after selling 190,059 shares during the period. Prudential Financial Inc.’s holdings in Edison International were worth $16,732,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Crews Bank & Trust acquired a new stake in Edison International in the 4th quarter valued at $25,000. Larson Financial Group LLC grew its holdings in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Edison International in the fourth quarter valued at about $33,000. Raleigh Capital Management Inc. raised its holdings in Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 311 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its holdings in 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 acquiring an additional 200 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research report on Wednesday, January 15th. The Goldman Sachs Group cut their price target 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. Finally, Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Performance

Shares of EIX stock opened at $57.33 on Friday. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.07 and a beta of 0.87. The company has a 50-day simple moving average of $55.09 and a 200 day simple moving average of $72.78. 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 issued its quarterly earnings data 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 return on equity of 13.17% and a net margin of 8.52%. On average, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.77%. The ex-dividend date is Monday, April 7th. Edison International’s 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.