Jennison Associates LLC Has $85.51 Million Stock Holdings in Edison International (NYSE:EIX)

Jennison Associates LLC decreased its holdings in shares of Edison International (NYSE:EIX) by 16.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,196,173 shares of the utilities provider’s stock after selling 243,089 shares during the period. Jennison Associates LLC owned approximately 0.31% of Edison International worth $85,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC raised its holdings in shares of Edison International by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider’s stock valued at $842,826,000 after purchasing an additional 197,259 shares during the last quarter. Wellington Management Group LLP grew its position in Edison International by 3.3% during the third quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock valued at $622,911,000 after buying an additional 317,297 shares during the period. Clearbridge Investments LLC grew its position in Edison International by 8.9% during the third quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock valued at $432,318,000 after buying an additional 558,351 shares during the period. Legal & General Group Plc grew its position in Edison International by 2.0% during the third quarter. Legal & General Group Plc now owns 5,590,765 shares of the utilities provider’s stock valued at $353,840,000 after buying an additional 108,138 shares during the period. Finally, Northern Trust Corp grew its position in Edison International by 3.9% during the third quarter. Northern Trust Corp now owns 4,428,725 shares of the utilities provider’s stock valued at $280,294,000 after buying an additional 165,734 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 1.0 %

Shares of Edison International stock opened at $70.64 on Tuesday. The company’s fifty day simple moving average is $68.57 and its 200-day simple moving average is $67.54. The stock has a market capitalization of $27.17 billion, a PE ratio of 22.64 and a beta of 0.96. Edison International has a 1-year low of $58.82 and a 1-year high of $74.92. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 EPS 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 the consensus estimate of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same period last year, the firm earned $1.14 EPS. As a group, equities analysts anticipate that Edison International will post 4.98 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.42%. Edison International’s dividend payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

EIX has been the subject of several research reports. Barclays increased their price target on shares of Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. TheStreet lowered shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $84.00 in a research report on Monday, January 22nd. Finally, Royal Bank of Canada cut their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.60.

Edison International 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.