Prudential Financial Inc. Has $16.73 Million Holdings in Edison International (NYSE:EIX)

Prudential Financial Inc. cut its holdings in shares of Edison International (NYSE:EIX) by 47.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,571 shares of the utilities provider’s stock after selling 190,059 shares during the period. Prudential Financial Inc. owned about 0.05% of Edison International worth $16,732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. State Street Corp grew its holdings in Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the last quarter. Geode Capital Management LLC grew its holdings in Edison International by 2.2% during the 3rd 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 last quarter. American Century Companies Inc. increased its position in Edison International by 2.1% in the 4th 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 in the last quarter. Finally, Amundi raised its stake in shares of Edison International by 0.3% in the fourth quarter. Amundi now owns 3,118,404 shares of the utilities provider’s stock worth $248,973,000 after acquiring an additional 10,396 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EIX has been the topic of several research analyst reports. Mizuho decreased their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group dropped their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Down 0.8 %

Shares of NYSE:EIX opened at $57.33 on Friday. The company has a 50 day moving average price of $55.09 and a two-hundred day moving average price of $72.78. 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 company has a market capitalization of $22.07 billion, a PE ratio of 16.81, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 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.