M&G PLC Sells 618,943 Shares of Edison International $EIX

M&G PLC decreased its position in Edison International (NYSE:EIX) by 40.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 915,730 shares of the utilities provider’s stock after selling 618,943 shares during the period. M&G PLC owned about 0.24% of Edison International worth $50,365,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. MAI Capital Management increased its stake in shares of Edison International by 20.8% during the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock valued at $60,000 after buying an additional 202 shares during the period. Empowered Funds LLC boosted its holdings in shares of Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after buying an additional 211 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Edison International by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock worth $3,818,000 after acquiring an additional 213 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in Edison International by 21.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 217 shares during the period. Finally, Generali Asset Management SPA SGR boosted its stake in Edison International by 0.7% during the third quarter. Generali Asset Management SPA SGR now owns 31,539 shares of the utilities provider’s stock worth $1,743,000 after acquiring an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 3.4%

Shares of EIX stock opened at $71.43 on Monday. The firm has a fifty day moving average price of $61.15 and a 200-day moving average price of $57.82. Edison International has a 1 year low of $47.73 and a 1 year high of $71.61. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The company has a market cap of $27.49 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.05 and a beta of 0.82.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio (DPR) is 45.88%.

Analyst Upgrades and Downgrades

EIX has been the topic of several recent research reports. Wells Fargo & Company downgraded Edison International from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $56.00 to $59.00 in a research note on Tuesday, January 20th. Jefferies Financial Group cut their price objective on shares of Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, LADENBURG THALM/SH SH upped their price target on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.10.

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.