Massachusetts Financial Services Co. MA Reduces Stake in Edison International (NYSE:EIX)

Massachusetts Financial Services Co. MA reduced its position in Edison International (NYSE:EIX) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,820,203 shares of the utilities provider’s stock after selling 110,529 shares during the period. Massachusetts Financial Services Co. MA owned about 1.01% of Edison International worth $211,907,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. BlackRock Inc. increased its position in Edison International by 4.0% during the second quarter. BlackRock Inc. now owns 38,902,545 shares of the utilities provider’s stock worth $2,249,345,000 after buying an additional 1,489,624 shares in the last quarter. Deutsche Bank AG increased its position in Edison International by 22.9% during the second quarter. Deutsche Bank AG now owns 7,923,588 shares of the utilities provider’s stock worth $458,142,000 after buying an additional 1,477,850 shares in the last quarter. Invesco Ltd. increased its position in Edison International by 28.1% during the second quarter. Invesco Ltd. now owns 3,868,098 shares of the utilities provider’s stock worth $223,655,000 after buying an additional 847,708 shares in the last quarter. Morgan Stanley increased its position in Edison International by 49.4% during the second quarter. Morgan Stanley now owns 2,548,040 shares of the utilities provider’s stock worth $147,329,000 after buying an additional 842,888 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Edison International by 1,442.5% during the second quarter. AQR Capital Management LLC now owns 788,988 shares of the utilities provider’s stock worth $45,422,000 after buying an additional 737,839 shares in the last quarter. 86.16% of the stock is owned by hedge funds and other institutional investors.

NYSE:EIX opened at $63.75 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.63 and a current ratio of 0.67. Edison International has a one year low of $53.92 and a one year high of $68.62. The business’s 50-day simple moving average is $66.05 and its 200 day simple moving average is $60.73. The stock has a market cap of $24.21 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 3.33 and a beta of 0.66.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, November 2nd. The utilities provider reported $1.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.07). Edison International had a return on equity of 11.77% and a net margin of 6.15%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the firm posted $1.67 EPS. On average, equities research analysts predict that Edison International will post 4.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Friday, December 31st will be issued a $0.70 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, December 30th. Edison International’s payout ratio is currently 139.30%.

A number of brokerages have recently commented on EIX. Argus lifted their price objective on Edison International from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, December 29th. Morgan Stanley lifted their price objective on Edison International from $57.00 to $61.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 21st. Finally, Wells Fargo & Company lowered their price objective on Edison International from $72.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, September 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $67.29.

In related news, Director Peter J. Taylor sold 3,100 shares of the business’s stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $63.56, for a total value of $197,036.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by insiders.

Edison International Company Profile

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.

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

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