Tredje AP fonden Cuts Position in Edison International (NYSE:EIX)

Tredje AP fonden cut its holdings in Edison International (NYSE:EIX) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,871 shares of the utilities provider’s stock after selling 29,871 shares during the period. Tredje AP fonden’s holdings in Edison International were worth $2,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank AB grew its stake in Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after purchasing an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in Edison International during the fourth quarter valued at about $235,000. KBC Group NV grew its position in Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after buying an additional 11,764 shares during the period. abrdn plc increased its holdings 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after acquiring an additional 76,654 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EIX shares. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Mizuho dropped their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Barclays decreased their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus target price of $76.54.

Edison International Stock Up 0.7 %

EIX stock opened at $55.86 on Friday. The stock has a 50-day simple moving average of $57.02 and a two-hundred day simple moving average of $74.75. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The firm has a market capitalization of $21.51 billion, a PE ratio of 16.38, a PEG ratio of 1.07 and a beta of 0.87. 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 (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. On average, equities analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.93%. Edison International’s payout ratio is currently 100.30%.

Edison International 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.