Asset Management One Co. Ltd. Increases Stock Position in Edison International (NYSE:EIX)

Asset Management One Co. Ltd. lifted its holdings in shares of Edison International (NYSE:EIX) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 204,634 shares of the utilities provider’s stock after purchasing an additional 5,599 shares during the period. Asset Management One Co. Ltd.’s holdings in Edison International were worth $16,328,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EIX shares. Wells Fargo & Company lifted their price target 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. Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Morgan Stanley dropped their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.39.

Edison International Price Performance

EIX stock opened at $50.11 on Friday. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The stock’s fifty day simple moving average is $67.14 and its 200-day simple moving average is $78.53.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.61%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

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.