Edison International (NYSE:EIX) Stock Position Increased by RWC Asset Management LLP

RWC Asset Management LLP raised its holdings in Edison International (NYSE:EIX) by 207.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 398,812 shares of the utilities provider’s stock after acquiring an additional 268,951 shares during the quarter. Edison International accounts for about 1.6% of RWC Asset Management LLP’s portfolio, making the stock its 18th biggest holding. RWC Asset Management LLP’s holdings in Edison International were worth $31,841,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after purchasing an additional 224,337 shares in the last quarter. FMR LLC increased its holdings 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 buying an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Edison International by 2.2% during 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $203,801,000 after buying an additional 28,240 shares in the last quarter. Finally, abrdn plc increased its position in shares of Edison International by 19.5% in the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on EIX. LADENBURG THALM/SH SH upgraded shares of 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. Morgan Stanley reduced their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and lowered their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. 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 price target on the stock. Finally, Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average price target of $80.11.

Edison International Price Performance

Shares of EIX opened at $52.10 on Monday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market cap of $20.17 billion, a PE ratio of 15.28, a PEG ratio of 1.07 and a beta of 0.90. The firm’s 50 day moving average price is $64.07 and its 200 day moving average price is $77.46. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.35%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 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.