D.A. Davidson & CO. Sells 1,282 Shares of Edison International (NYSE:EIX)

D.A. Davidson & CO. trimmed its holdings in shares of Edison International (NYSE:EIX) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,773 shares of the utilities provider’s stock after selling 1,282 shares during the period. D.A. Davidson & CO.’s holdings in Edison International were worth $3,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC grew its holdings in Edison International by 8.7% during the third 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 during the period. abrdn plc grew its holdings in Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after purchasing an additional 422,752 shares during the period. AustralianSuper Pty Ltd acquired a new position in Edison International during the fourth quarter valued at approximately $31,877,000. Finally, Miller Howard Investments Inc. NY grew its holdings in Edison International by 565.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock valued at $27,400,000 after purchasing an additional 291,619 shares during the period. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on EIX shares. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a report on Wednesday, January 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Finally, Barclays reduced their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average target price of $80.11.

Edison International Stock Performance

Shares of EIX opened at $51.86 on Friday. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The firm has a fifty day simple moving average of $65.26 and a 200 day simple moving average of $77.90. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.05 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

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 issued a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 6.38%. Edison International’s dividend payout ratio is presently 97.07%.

Edison International Company 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.