56,453 Shares in Edison International (NYSE:EIX) Purchased by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC bought a new position in Edison International (NYSE:EIX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 56,453 shares of the utilities provider’s stock, valued at approximately $4,507,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. Swedbank AB raised its stake in Edison International by 3.3% in the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after purchasing an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Edison International in the 4th quarter worth $235,000. KBC Group NV raised its position in shares of Edison International by 23.7% during the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after buying an additional 11,764 shares in the last quarter. abrdn plc lifted its holdings in shares of Edison International by 19.5% during 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 during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Edison International in the third quarter worth $1,387,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of research reports. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Barclays dropped their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.11.

Edison International Stock Down 0.3 %

NYSE EIX opened at $52.08 on Wednesday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The stock has a market capitalization of $20.16 billion, a PE ratio of 15.27, a PEG ratio of 1.07 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business’s 50-day moving average is $62.92 and its 200 day moving average is $77.04.

Edison International Increases Dividend

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