abrdn plc Increases Holdings in Edison International (NYSE:EIX)

abrdn plc increased its stake in Edison International (NYSE:EIX) by 97.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,382 shares of the utilities provider’s stock after purchasing an additional 98,591 shares during the quarter. abrdn plc owned about 0.05% of Edison International worth $14,254,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in EIX. Institute for Wealth Management LLC. bought a new stake in Edison International during the fourth quarter valued at $208,000. Fidelis Capital Partners LLC boosted its stake in Edison International by 11.2% during the fourth quarter. Fidelis Capital Partners LLC now owns 8,245 shares of the utilities provider’s stock valued at $589,000 after buying an additional 829 shares during the period. Xponance Inc. boosted its stake in Edison International by 5.1% during the fourth quarter. Xponance Inc. now owns 51,612 shares of the utilities provider’s stock valued at $3,690,000 after buying an additional 2,525 shares during the period. SFE Investment Counsel boosted its stake in Edison International by 1.3% during the fourth quarter. SFE Investment Counsel now owns 33,320 shares of the utilities provider’s stock valued at $2,382,000 after buying an additional 430 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Edison International by 1.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 195,650 shares of the utilities provider’s stock valued at $13,987,000 after buying an additional 2,972 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. The Goldman Sachs Group assumed coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. Royal Bank of Canada dropped their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Edison International currently has an average rating of “Hold” and an average price target of $73.60.

Edison International Stock Up 0.4 %

EIX opened at $71.12 on Friday. The company has a market cap of $27.36 billion, a P/E ratio of 22.79 and a beta of 0.96. The business’s 50-day moving average price is $68.91 and its 200-day moving average price is $67.65. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86. Edison International has a 12 month low of $58.82 and a 12 month high of $74.92.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, equities analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a dividend yield of 4.39%. Edison International’s dividend payout ratio is currently 100.00%.

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.