Hudson Bay Capital Management LP Sells 22,553 Shares of Edison International (NYSE:EIX)

Hudson Bay Capital Management LP lowered its position in shares of Edison International (NYSE:EIX) by 14.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 134,947 shares of the utilities provider’s stock after selling 22,553 shares during the period. Hudson Bay Capital Management LP’s holdings in Edison International were worth $10,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Edison International during the 4th quarter worth about $323,443,000. Canada Pension Plan Investment Board lifted its holdings in Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after buying an additional 2,643,571 shares during the period. Northern Trust Corp lifted its holdings in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after buying an additional 2,016,017 shares during the period. Ameriprise Financial Inc. lifted its holdings in Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock worth $223,057,000 after buying an additional 1,673,204 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after buying an additional 1,559,501 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Mizuho cut their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group dropped their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus target price of $76.96.

Edison International Stock Performance

Shares of EIX opened at $56.20 on Monday. 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 stock has a 50 day moving average price of $56.70 and a two-hundred day moving average price of $65.99. The firm has a market capitalization of $21.62 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.07 and a beta of 0.77. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.89%. The ex-dividend date was Monday, April 7th. Edison International’s dividend payout ratio is presently 46.95%.

About Edison International

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.