Edison International (NYSE:EIX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in Edison International (NYSE:EIX - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 923,193 shares of the utilities provider's stock after selling 236,877 shares during the quarter. Bank of America Corp DE owned 0.24% of Edison International worth $73,708,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Edison International by 16.9% during the 3rd quarter. Barclays PLC now owns 918,489 shares of the utilities provider's stock worth $79,991,000 after purchasing an additional 132,749 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Edison International by 6.4% in the third quarter. Principal Financial Group Inc. now owns 459,194 shares of the utilities provider's stock worth $39,991,000 after acquiring an additional 27,667 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Edison International by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,688 shares of the utilities provider's stock worth $1,802,000 after acquiring an additional 389 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Edison International by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,578 shares of the utilities provider's stock valued at $765,000 after purchasing an additional 234 shares during the last quarter. Finally, Czech National Bank lifted its position in shares of Edison International by 6.7% during the 4th quarter. Czech National Bank now owns 83,942 shares of the utilities provider's stock worth $6,702,000 after purchasing an additional 5,274 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays increased their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price target 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. JPMorgan Chase & Co. reissued a "neutral" rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Finally, Morgan Stanley restated an "overweight" rating on shares of Edison International in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.96.

Edison International Stock Performance

Shares of EIX stock traded up $1.02 during midday trading on Friday, hitting $58.62. The company had a trading volume of 2,319,314 shares, compared to its average volume of 3,020,872. The stock has a market cap of $22.55 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.07 and a beta of 0.77. 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's 50 day simple moving average is $56.76 and its 200 day simple moving average is $65.48. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International's quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm posted $1.13 EPS. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.65%. Edison International's dividend payout ratio (DPR) is 46.95%.

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.