Bfsg LLC Lowers Stock Position in Edison International (NYSE:EIX)

Bfsg LLC lowered its position in shares of Edison International (NYSE:EIX) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,478 shares of the utilities provider’s stock after selling 324 shares during the period. Bfsg LLC’s holdings in Edison International were worth $837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB lifted its position in Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after buying an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Edison International during the fourth quarter valued at $235,000. KBC Group NV increased its holdings in shares of Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares in the last quarter. abrdn plc increased its holdings in shares of Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after acquiring an additional 276,656 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Edison International during the third quarter valued at $1,387,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EIX shares. Barclays reduced their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. 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 report on Wednesday, January 15th. Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley reduced their price objective on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.11.

Edison International Trading Up 2.2 %

Shares of NYSE:EIX opened at $51.17 on Wednesday. The stock has a market capitalization of $19.81 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.03 and a beta of 0.90. 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 stock’s 50-day simple moving average is $66.48 and its two-hundred day simple moving average is $78.30. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77.

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 given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.47%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Edison International Company 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.