Edison International (NYSE:EIX) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in shares of Edison International (NYSE:EIX) by 814.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 224,521 shares of the utilities provider’s stock after buying an additional 199,979 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.06% of Edison International worth $17,926,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Edison International by 8.7% in 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 position in shares of Edison International by 166.4% in 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 position in shares of Edison International by 117.8% in 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 stake in shares of Edison International in the fourth quarter valued at about $31,877,000. Finally, Miller Howard Investments Inc. NY grew its position in shares of Edison International by 565.5% in 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. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX stock opened at $52.10 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm’s 50-day moving average is $64.67 and its two-hundred day moving average is $77.72. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a market capitalization of $20.17 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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 an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a yield of 6.35%. Edison International’s payout ratio is 97.07%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the company from $69.00 to $65.00 in a research report on Tuesday. Morgan Stanley dropped their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.