Edison International $EIX Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd reduced its holdings in Edison International (NYSE:EIX) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,020 shares of the utilities provider’s stock after selling 8,588 shares during the quarter. Plato Investment Management Ltd’s holdings in Edison International were worth $3,841,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Edison International during the 2nd quarter worth $268,801,000. AQR Capital Management LLC lifted its stake in shares of Edison International by 83.5% in the second quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after purchasing an additional 4,534,864 shares during the period. Vanguard Group Inc. lifted its stake in shares of Edison International by 4.9% in the second quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock valued at $2,655,858,000 after purchasing an additional 2,386,562 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Edison International by 237.2% during the second quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock worth $98,276,000 after buying an additional 1,339,806 shares in the last quarter. Finally, Man Group plc grew its position in Edison International by 109.6% during the second quarter. Man Group plc now owns 2,314,124 shares of the utilities provider’s stock worth $119,409,000 after buying an additional 1,209,964 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Barclays decreased their target price on Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. UBS Group restated a “buy” rating on shares of Edison International in a research report on Friday, January 16th. Finally, LADENBURG THALM/SH SH lifted their price target on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Edison International has a consensus rating of “Hold” and an average price target of $63.30.

Edison International Stock Performance

Edison International stock opened at $64.06 on Friday. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $64.68. The company has a market capitalization of $24.65 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 0.94 and a beta of 0.82. The stock has a fifty day moving average of $60.17 and a two-hundred day moving average of $57.25. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. 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 presently 45.88%.

Edison International 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.