Handelsbanken Fonder AB increased its position in Edison International (NYSE:EIX - Free Report) by 814.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,521 shares of the utilities provider's stock after acquiring an additional 199,979 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of Edison International worth $17,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Crews Bank & Trust purchased a new position in shares of Edison International in the fourth quarter worth about $25,000. Highline Wealth Partners LLC acquired a new position in Edison International in the 3rd quarter worth approximately $26,000. Groupama Asset Managment raised its position in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after buying an additional 237 shares during the last quarter. Eastern Bank acquired a new stake in Edison International during the 3rd quarter valued at approximately $27,000. Finally, Larson Financial Group LLC lifted its stake in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.
Shares of NYSE:EIX traded up $0.20 during midday trading on Friday, reaching $52.10. 6,203,553 shares of the company's stock traded hands, compared to its average volume of 5,410,866. The company has a market cap of $20.17 billion, a P/E ratio of 15.28, a PEG ratio of 1.07 and a beta of 0.90. The company has a fifty day simple moving average of $64.07 and a two-hundred day simple moving average of $77.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.
The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were given a $0.8275 dividend. This is a positive change 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 dividend yield of 6.35%. Edison International's dividend payout ratio (DPR) is 97.07%.
EIX has been the topic of a number of research reports. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Barclays cut their price target on Edison International from $76.00 to $67.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $69.00 to $65.00 in a report on Tuesday. Guggenheim lowered Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and an average target price of $80.11.
Get Our Latest Research Report on EIX
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.
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