American Century Companies Inc. cut its holdings in shares of Edison International (NYSE:EIX) by 42.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,274,825 shares of the utilities provider’s stock after selling 1,672,128 shares during the quarter. American Century Companies Inc. owned 0.70% of Edison International worth $129,142,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Enlightenment Research LLC acquired a new position in Edison International in the fourth quarter valued at $28,000. Essex Investment Management Co. LLC bought a new stake in Edison International in the fourth quarter valued at $28,000. Rehmann Capital Advisory Group increased its stake in Edison International by 57.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 547 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 199 shares in the last quarter. Karp Capital Management Corp bought a new stake in Edison International in the fourth quarter valued at $32,000. Finally, Bremer Trust National Association bought a new stake in Edison International in the fourth quarter valued at $35,000. 84.82% of the stock is currently owned by institutional investors.
EIX has been the subject of several recent research reports. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Friday, January 18th. Goldman Sachs Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $71.00 to $63.00 in a research report on Friday, January 4th. Citigroup upped their price objective on shares of Edison International to $64.00 and gave the stock a “buy” rating in a research report on Thursday, January 24th. Mizuho boosted their target price on shares of Edison International from $57.00 to $66.50 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, Morgan Stanley boosted their target price on shares of Edison International from $76.00 to $79.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $70.14.
Edison International (NYSE:EIX) last released its earnings results on Thursday, February 28th. The utilities provider reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.06). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.90 billion. Edison International had a negative net margin of 2.45% and a positive return on equity of 10.47%. During the same period in the prior year, the business posted $1.10 EPS. As a group, analysts forecast that Edison International will post 4.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.6125 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.45 annualized dividend and a dividend yield of 3.82%. Edison International’s dividend payout ratio is 59.04%.
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About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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