Edison International (NYSE:EIX) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lessened its stake in Edison International (NYSE:EIX) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,322 shares of the utilities provider’s stock after selling 2,545 shares during the quarter. AGF Management Ltd.’s holdings in Edison International were worth $3,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Assetmark Inc. lifted its holdings in shares of Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after buying an additional 157 shares during the period. Jamison Private Wealth Management Inc. lifted its holdings in shares of Edison International by 2.6% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after buying an additional 174 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Edison International by 2.9% in the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock valued at $503,000 after buying an additional 176 shares during the period. Old Port Advisors lifted its holdings in shares of Edison International by 0.9% in the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock valued at $1,540,000 after buying an additional 180 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group reduced their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Barclays reduced their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. Finally, Morgan Stanley reduced their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.54.

Edison International Price Performance

EIX stock opened at $55.50 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business has a 50 day simple moving average of $57.50 and a 200-day simple moving average of $74.88. The firm has a market capitalization of $21.37 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.

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

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 annualized dividend and a yield of 5.96%. Edison International’s payout ratio is 100.30%.

Edison International 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.