abrdn plc Buys 276,656 Shares of Edison International (NYSE:EIX)

abrdn plc lifted its stake in Edison International (NYSE:EIX) by 19.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,695,182 shares of the utilities provider’s stock after purchasing an additional 276,656 shares during the quarter. abrdn plc owned about 0.44% of Edison International worth $134,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in EIX. FMR LLC boosted its position in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares in the last quarter. State Street Corp lifted its position in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after acquiring an additional 224,337 shares in the last quarter. Geode Capital Management LLC lifted its position in Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after acquiring an additional 210,461 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Edison International in the 3rd quarter valued at approximately $18,107,000. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on EIX shares. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley lowered their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. UBS Group lowered their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays lowered their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Edison International Trading Down 2.9 %

Shares of EIX stock opened at $52.44 on Tuesday. Edison International has a 52-week low of $51.64 and a 52-week high of $88.77. 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 firm has a market capitalization of $20.30 billion, a PE ratio of 15.38, a PEG ratio of 1.11 and a beta of 0.90. The stock has a fifty day simple moving average of $74.15 and a two-hundred day simple moving average of $80.32.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is presently 97.07%.

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.