Nomura Asset Management Co. Ltd. Trims Position in Edison International (NYSE:EIX)

Nomura Asset Management Co. Ltd. reduced its holdings in Edison International (NYSE:EIX) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,887 shares of the utilities provider’s stock after selling 602 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Edison International were worth $10,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. State Street Corp lifted its holdings in shares of Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after buying an additional 224,337 shares during the period. Geode Capital Management LLC grew its holdings in Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after acquiring an additional 210,461 shares during the period. Norges Bank acquired a new stake in Edison International during the fourth quarter worth about $323,443,000. Finally, American Century Companies Inc. lifted its holdings in Edison International by 2.1% in the fourth quarter. American Century Companies Inc. now owns 3,284,870 shares of the utilities provider’s stock valued at $262,264,000 after acquiring an additional 69,074 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on EIX. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Mizuho cut their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Wells Fargo & Company cut their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley increased their price target on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.82.

Edison International Trading Up 1.6 %

Shares of EIX stock opened at $58.20 on Monday. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock’s fifty day moving average is $55.00 and its two-hundred day moving average is $72.42. The firm has a market capitalization of $22.41 billion, a P/E ratio of 17.07, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.69%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.