Magnetar Financial LLC Sells 5,793 Shares of Edison International (NYSE:EIX)

Magnetar Financial LLC decreased its holdings in shares of Edison International (NYSE:EIX) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,391 shares of the utilities provider’s stock after selling 5,793 shares during the period. Magnetar Financial LLC’s holdings in Edison International were worth $1,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC increased its stake in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Edison International in the 4th quarter worth about $39,344,000. AustralianSuper Pty Ltd purchased a new position in Edison International in the 4th quarter worth about $31,877,000. Victory Capital Management Inc. boosted its holdings in shares of Edison International by 74.6% during the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock valued at $72,379,000 after acquiring an additional 387,215 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its holdings in shares of Edison International by 565.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock valued at $27,400,000 after purchasing an additional 291,619 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EIX. Morgan Stanley raised their target price on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Mizuho lowered their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $76.82.

Edison International Price Performance

EIX stock opened at $58.32 on Friday. Edison International has a one year low of $49.06 and a one year high of $88.77. The company’s fifty day moving average price is $55.24 and its 200-day moving average price is $73.60. 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 $22.45 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released 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 during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. On average, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. Edison International’s dividend payout ratio (DPR) is 100.30%.

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.