Edison International (NYSE:EIX) Holdings Raised by Ieq Capital LLC

Ieq Capital LLC increased its stake in Edison International (NYSE:EIX) by 28.7% during the fourth quarter, HoldingsChannel reports. The firm owned 18,856 shares of the utilities provider’s stock after acquiring an additional 4,208 shares during the period. Ieq Capital LLC’s holdings in Edison International were worth $1,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Edison International by 0.7% during the third 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 during the period. FMR LLC boosted its position in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the period. Geode Capital Management LLC grew its holdings in shares of Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after buying an additional 210,461 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after buying an additional 28,240 shares during the period. Finally, abrdn plc lifted its stake in Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. Barclays cut their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. 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 objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.11.

Edison International Stock Performance

EIX opened at $52.06 on Tuesday. 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 cap of $20.16 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The stock has a 50-day moving average of $63.49 and a 200-day moving average of $77.25. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.36%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is presently 97.07%.

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.