Shell Asset Management Co. Reduces Holdings in Edison International $EIX

Shell Asset Management Co. decreased its position in Edison International (NYSE:EIX) by 70.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,389 shares of the utilities provider’s stock after selling 58,733 shares during the period. Shell Asset Management Co.’s holdings in Edison International were worth $1,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Activest Wealth Management raised its position in Edison International by 677.8% during the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 488 shares during the period. CVA Family Office LLC boosted its stake in Edison International by 113.7% during the third quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock worth $32,000 after buying an additional 307 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of Edison International by 5,064.3% in the second quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 709 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of Edison International during the 2nd quarter valued at approximately $38,000. Finally, Quent Capital LLC purchased a new stake in Edison International in the third quarter valued at $40,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Performance

Edison International stock opened at $71.43 on Monday. The firm has a market capitalization of $27.49 billion, a P/E ratio of 9.34, a PEG ratio of 1.05 and a beta of 0.82. Edison International has a 52 week low of $47.73 and a 52 week high of $71.61. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The stock has a fifty day moving average price of $61.15 and a 200 day moving average price of $57.82.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.9%. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, January 7th. Edison International’s payout ratio is currently 45.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Zacks Research lowered shares of Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. UBS Group downgraded Edison International from a “buy” rating to a “neutral” rating and boosted their target price for the company from $70.00 to $78.00 in a report on Friday. Barclays dropped their price objective on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Jefferies Financial Group decreased their price target on Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Finally, Morgan Stanley restated an “underweight” rating on shares of Edison International in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.10.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.