Impax Asset Management Group plc Acquires 38,220 Shares of Edison International (NYSE:EIX)

Impax Asset Management Group plc lifted its holdings in shares of Edison International (NYSE:EIX) by 38.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,703 shares of the utilities provider’s stock after acquiring 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 & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its holdings in Edison International by 9.8% in the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock worth $23,662,000 after purchasing an additional 24,208 shares in the last quarter. International Assets Investment Management LLC bought a new position in Edison International in the third quarter worth about $8,879,000. Dakota Wealth Management purchased a new stake in Edison International in the third quarter worth about $279,000. Ballentine Partners LLC bought a new stake in Edison International during the 3rd quarter valued at approximately $201,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Edison International by 30.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,559 shares of the utilities provider’s stock worth $2,219,000 after acquiring an additional 5,955 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX opened at $52.06 on Tuesday. The company has a market cap of $20.16 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.07 and a beta of 0.90. The business’s fifty day simple moving average is $63.49 and its two-hundred day simple moving average is $77.25. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. The ex-dividend date was Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.36%. Edison International’s dividend payout ratio (DPR) is 97.07%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley reduced 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 for the company in a research report on Wednesday, January 15th. Finally, UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.11.

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.