Wedge Capital Management L L P NC Sells 27,915 Shares of Edison International (NYSE:EIX)

Wedge Capital Management L L P NC decreased its position in Edison International (NYSE:EIX - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,651 shares of the utilities provider's stock after selling 27,915 shares during the period. Wedge Capital Management L L P NC's holdings in Edison International were worth $12,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. HB Wealth Management LLC grew its position in shares of Edison International by 26.8% during the 3rd quarter. HB Wealth Management LLC now owns 3,760 shares of the utilities provider's stock worth $238,000 after buying an additional 795 shares during the period. Founders Financial Securities LLC raised its position in shares of Edison International by 13.3% during the 3rd quarter. Founders Financial Securities LLC now owns 13,890 shares of the utilities provider's stock valued at $879,000 after acquiring an additional 1,630 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Edison International by 38.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,592 shares of the utilities provider's stock valued at $101,000 after purchasing an additional 445 shares during the period. Caprock Group LLC boosted its position in shares of Edison International by 10.2% in the 3rd quarter. Caprock Group LLC now owns 12,560 shares of the utilities provider's stock worth $804,000 after purchasing an additional 1,165 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Edison International by 17.9% during the third quarter. UMB Bank n.a. now owns 2,191 shares of the utilities provider's stock worth $139,000 after purchasing an additional 333 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Up 0.2 %

NYSE:EIX traded up $0.15 during trading hours on Tuesday, reaching $70.81. 1,713,546 shares of the stock were exchanged, compared to its average volume of 2,159,790. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. Edison International has a twelve month low of $58.82 and a twelve month high of $74.92. The stock has a market cap of $27.24 billion, a PE ratio of 22.70 and a beta of 0.96. The firm has a 50 day moving average of $68.70 and a 200 day moving average of $67.60.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the firm earned $1.14 earnings per share. On average, equities analysts expect that Edison International will post 4.98 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International's dividend payout ratio (DPR) is 100.00%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Edison International from a "sell" rating to a "hold" rating in a research report on Saturday, February 24th. The Goldman Sachs Group assumed coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a "neutral" rating and a $78.00 target price on the stock. Guggenheim upgraded shares of Edison International from a "neutral" rating to a "buy" rating and upped their price objective for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. Royal Bank of Canada reduced their target price on Edison International from $81.00 to $80.00 and set an "outperform" rating on the stock in a report on Thursday, March 7th. Finally, TheStreet downgraded Edison International from a "b" rating to a "c+" rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $73.60.

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.