Sentry Investment Management LLC Has $114,000 Stake in Edison International (NYSE:EIX)

Sentry Investment Management LLC lessened its position in Edison International (NYSE:EIX) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,429 shares of the utilities provider’s stock after selling 233 shares during the period. Sentry Investment Management LLC’s holdings in Edison International were worth $114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EIX. FMR LLC raised its stake in 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. raised 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 valued at $68,081,000 after buying an additional 422,752 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Edison International in the 4th quarter valued at approximately $31,877,000. Miller Howard Investments Inc. NY grew its holdings in shares of Edison International by 565.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock valued at $27,400,000 after purchasing an additional 291,619 shares during the last quarter. Finally, abrdn plc grew 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 valued at $134,335,000 after purchasing an additional 276,656 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE:EIX opened at $52.62 on Thursday. The business has a 50-day simple moving average of $62.41 and a two-hundred day simple moving average of $76.87. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. Edison International has a fifty-two week low of $49.06 and a fifty-two 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.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors 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 an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.29%. Edison International’s payout ratio is 97.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Barclays lowered their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Finally, Wells Fargo & Company increased their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.11.

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.