Mirae Asset Global Investments Co. Ltd. Trims Stake in Edison International (NYSE:EIX)

Mirae Asset Global Investments Co. Ltd. lowered its position in Edison International (NYSE:EIX) by 15.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,901 shares of the utilities provider’s stock after selling 11,815 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Edison International were worth $4,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RVW Wealth LLC purchased a new stake in shares of Edison International in the third quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Edison International in the fourth quarter valued at $27,000. WASHINGTON TRUST Co raised its stake in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 270 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Edison International in the first quarter valued at $41,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Edison International by 144.4% in the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. Barclays upped their price target on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada dropped their target price on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and a consensus target price of $73.60.

Edison International Trading Down 1.1 %

Shares of EIX opened at $67.88 on Tuesday. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86. The firm’s fifty day moving average is $68.21 and its two-hundred day moving average is $67.29. The stock has a market cap of $26.11 billion, a PE ratio of 21.76 and a beta of 0.96.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same quarter in the previous year, the company posted $1.14 EPS. Research analysts forecast that Edison International will post 5.01 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.60%. Edison International’s dividend payout ratio (DPR) is currently 100.00%.

Edison International Company 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.