Edison International (NYSE:EIX) Stock Position Raised by Ieq Capital LLC

Ieq Capital LLC boosted its holdings in Edison International (NYSE:EIX) by 28.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,856 shares of the utilities provider’s stock after acquiring an additional 4,208 shares during the period. Ieq Capital LLC’s holdings in Edison International were worth $1,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after purchasing an additional 224,337 shares during the last quarter. FMR LLC increased its position in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the period. Geode Capital Management LLC lifted its stake in Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after buying an additional 210,461 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after acquiring an additional 28,240 shares during the period. Finally, abrdn plc grew its position in shares of Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of Edison International stock opened at $52.06 on Tuesday. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company’s 50-day moving average price is $63.49 and its two-hundred day moving average price is $77.25. The stock has a market cap of $20.16 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently announced 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 a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.36%. Edison International’s dividend payout ratio is currently 97.07%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, Barclays reduced their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.