Edison International (NYSE:EIX) Shares Sold by ING Groep NV

ING Groep NV reduced its holdings in shares of Edison International (NYSE:EIX) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,694 shares of the utilities provider’s stock after selling 3,448 shares during the quarter. ING Groep NV’s holdings in Edison International were worth $4,047,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in EIX. Swedbank AB boosted its holdings 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. acquired a new position in shares of Edison International in the 4th quarter valued at $235,000. KBC Group NV grew its position in shares of Edison International by 23.7% in 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 during the last quarter. abrdn plc grew its position in shares of Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after buying an additional 276,656 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Edison International during the 3rd quarter worth $1,387,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EIX. Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley dropped their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. Barclays lowered their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Stock Up 0.4 %

Shares of NYSE:EIX opened at $52.10 on Friday. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s 50-day simple moving average is $64.07 and its 200-day simple moving average is $77.52. The company has a market cap of $20.17 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.35%. 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 payout ratio is currently 97.07%.

Edison International 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.