United Capital Financial Advisers LLC Sells 884 Shares of Edison International (NYSE:EIX)

United Capital Financial Advisers LLC lessened its stake in Edison International (NYSE:EIX – Get Rating) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,498 shares of the utilities provider’s stock after selling 884 shares during the period. United Capital Financial Advisers LLC’s holdings in Edison International were worth $255,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EIX. Invesco Ltd. raised its position in Edison International by 36.8% in the 1st quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock worth $401,877,000 after purchasing an additional 1,541,989 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Edison International by 116.6% during the 2nd quarter. Prudential Financial Inc. now owns 1,904,395 shares of the utilities provider’s stock valued at $120,433,000 after acquiring an additional 1,025,096 shares during the last quarter. State Street Corp raised its position in shares of Edison International by 2.9% during the 2nd quarter. State Street Corp now owns 28,703,577 shares of the utilities provider’s stock valued at $1,815,214,000 after acquiring an additional 814,769 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Edison International by 105.3% during the 2nd quarter. Nordea Investment Management AB now owns 1,458,056 shares of the utilities provider’s stock valued at $91,347,000 after acquiring an additional 747,958 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Edison International by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock valued at $3,121,569,000 after acquiring an additional 731,841 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX opened at $67.39 on Wednesday. The firm has a market cap of $25.78 billion, a PE ratio of 42.12, a PEG ratio of 4.86 and a beta of 0.78. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.74. Edison International has a 1-year low of $54.45 and a 1-year high of $73.32. The company has a fifty day moving average price of $67.05 and a 200 day moving average price of $64.53.

Edison International (NYSE:EIX – Get Rating) last announced its earnings results on Thursday, February 23rd. The utilities provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.07. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.61 billion. Edison International had a net margin of 4.48% and a return on equity of 12.05%. During the same period in the prior year, the business earned $1.16 EPS. Research analysts predict that Edison International will post 4.74 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.7375 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 4.38%. Edison International’s dividend payout ratio is 184.38%.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Edison International from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and upped their target price for the company from $69.00 to $75.00 in a research report on Tuesday, January 3rd. Morgan Stanley lowered their price objective on shares of Edison International from $57.00 to $54.00 and set an “underweight” rating for the company in a research report on Wednesday, February 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price objective on shares of Edison International in a research report on Monday. Finally, Credit Suisse Group lowered their price objective on shares of Edison International from $68.00 to $67.00 and set a “neutral” rating for the company in a research report on Friday, February 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.64.

About Edison International

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.