Cetera Investment Advisers Reduces Stock Position in Edison International (NYSE:EIX)

Cetera Investment Advisers decreased its holdings in Edison International (NYSE:EIX - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,528 shares of the utilities provider's stock after selling 24,825 shares during the quarter. Cetera Investment Advisers' holdings in Edison International were worth $6,509,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares during the period. Geode Capital Management LLC boosted its stake in shares of Edison International by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock worth $795,123,000 after buying an additional 362,999 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after acquiring an additional 2,016,017 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Edison International by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock worth $409,865,000 after acquiring an additional 50,451 shares during the period. Finally, Invesco Ltd. increased its position in Edison International by 38.2% during the fourth quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock valued at $384,560,000 after acquiring an additional 1,331,941 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Price Performance

EIX stock traded up $1.02 during midday trading on Friday, hitting $58.62. The company's stock had a trading volume of 2,319,314 shares, compared to its average volume of 3,020,875. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a 50 day moving average of $56.76 and a two-hundred day moving average of $65.48. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. On average, analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EIX. Mizuho lowered their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. 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. Guggenheim downgraded shares of Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. The Goldman Sachs Group decreased their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Edison International in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and an average target price of $76.96.

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.