Banque Pictet & Cie SA Sells 2,505 Shares of Edison International (NYSE:EIX)

Banque Pictet & Cie SA decreased its position in shares of Edison International (NYSE:EIXGet Rating) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,422 shares of the utilities provider’s stock after selling 2,505 shares during the period. Banque Pictet & Cie SA’s holdings in Edison International were worth $1,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Godsey & Gibb Associates bought a new stake in Edison International during the 1st quarter worth approximately $25,000. San Luis Wealth Advisors LLC bought a new stake in shares of Edison International during the first quarter valued at approximately $25,000. Prospera Financial Services Inc bought a new stake in shares of Edison International during the first quarter valued at approximately $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Edison International by 128.5% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 457 shares of the utilities provider’s stock valued at $29,000 after buying an additional 257 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Edison International during the first quarter valued at approximately $34,000. Institutional investors own 87.21% of the company’s stock.

Edison International Stock Down 1.2 %

NYSE EIX opened at $57.31 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.60 and a debt-to-equity ratio of 1.64. The company has a fifty day moving average of $61.48 and a two-hundred day moving average of $64.65. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 4.96 and a beta of 0.73. Edison International has a 52 week low of $54.45 and a 52 week high of $73.32.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, September 30th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, September 29th. Edison International’s payout ratio is 148.15%.

Wall Street Analyst Weigh In

EIX has been the topic of several recent analyst reports. Guggenheim reduced their price objective on shares of Edison International from $82.00 to $66.00 in a research report on Monday, October 24th. Credit Suisse Group reduced their price objective on shares of Edison International from $64.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, October 14th. StockNews.com cut shares of Edison International from a “hold” rating to a “sell” rating in a research report on Thursday, November 3rd. JPMorgan Chase & Co. reduced their price target on shares of Edison International from $74.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 25th. Finally, Wells Fargo & Company reduced their price target on shares of Edison International from $79.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Edison International presently has a consensus rating of “Hold” and a consensus price target of $67.58.

Edison International Profile

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Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

Further Reading

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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