State of Wisconsin Investment Board cut its stake in shares of Edison International (NYSE:EIX) by 16.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 426,354 shares of the utilities provider’s stock after selling 82,652 shares during the quarter. State of Wisconsin Investment Board’s holdings in Edison International were worth $26,963,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Cerebellum GP LLC acquired a new position in Edison International in the fourth quarter valued at about $116,000. Amica Retiree Medical Trust acquired a new position in Edison International in the third quarter valued at about $138,000. First Command Financial Services Inc. acquired a new position in Edison International in the fourth quarter valued at about $154,000. Advisory Services Network LLC lifted its holdings in shares of Edison International by 1,842.3% in the fourth quarter. Advisory Services Network LLC now owns 2,661 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 2,524 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its holdings in shares of Edison International by 139.7% in the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,533 shares in the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.
EIX has been the topic of several analyst reports. Edward Jones lowered Edison International from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Citigroup restated a “hold” rating and issued a $66.00 price objective on shares of Edison International in a research note on Monday, January 22nd. Royal Bank of Canada restated a “buy” rating and issued a $74.00 price objective on shares of Edison International in a research note on Friday, December 22nd. Morgan Stanley dropped their price objective on Edison International from $96.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 13th. Finally, JPMorgan Chase & Co. began coverage on Edison International in a research note on Friday, January 12th. They issued a “neutral” rating and a $67.00 price objective on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $77.21.
Shares of Edison International (EIX) opened at $61.05 on Tuesday. The firm has a market capitalization of $19,890.77, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 2.25 and a beta of 0.17. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Thursday, December 28th. This is an increase from Edison International’s previous quarterly dividend of $0.54. Edison International’s dividend payout ratio (DPR) is currently 54.63%.
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Edison International Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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