Impax Asset Management Group plc Raises Stock Position in Edison International (NYSE:EIX)

Impax Asset Management Group plc raised its stake in shares of Edison International (NYSE:EIX) by 38.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 138,703 shares of the utilities provider’s stock after buying an additional 38,220 shares during the quarter. Impax Asset Management Group plc’s holdings in Edison International were worth $11,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position 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 acquiring an additional 1,741,835 shares during the last quarter. abrdn plc increased its position in shares of Edison International by 166.4% during the 3rd 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 last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Edison International by 117.8% during the 3rd 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 last quarter. AustralianSuper Pty Ltd bought a new position in shares of Edison International in the 4th quarter worth approximately $31,877,000. Finally, Miller Howard Investments Inc. NY boosted its holdings 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 worth $27,400,000 after buying an additional 291,619 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on EIX. Wells Fargo & Company upped their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Jefferies Financial Group assumed coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Barclays cut their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.11.

Edison International Stock Down 0.2 %

Shares of EIX stock opened at $52.06 on Tuesday. The company’s fifty day simple moving average is $63.49 and its two-hundred day simple moving average is $77.25. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The stock has a market cap of $20.16 billion, a P/E ratio of 15.27, a PEG ratio of 1.07 and a beta of 0.90. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a $0.8275 dividend. 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 dividend yield of 6.36%. The ex-dividend date was Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

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.