Miller Howard Investments Inc. NY Boosts Stake in Edison International (NYSE:EIX)

Miller Howard Investments Inc. NY raised its holdings in Edison International (NYSE:EIX) by 565.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 343,190 shares of the utilities provider’s stock after acquiring an additional 291,619 shares during the period. Miller Howard Investments Inc. NY owned approximately 0.09% of Edison International worth $27,400,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of EIX. Crews Bank & Trust purchased a new stake in Edison International in the fourth quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Edison International during the 3rd quarter valued at $26,000. Groupama Asset Managment lifted its holdings in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares during the last quarter. Eastern Bank purchased a new position in Edison International in the third quarter worth $27,000. Finally, Larson Financial Group LLC increased its stake in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EIX shares. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Barclays reduced their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.88.

Edison International Stock Down 2.3 %

NYSE EIX opened at $49.99 on Friday. Edison International has a 1 year low of $49.92 and a 1 year high of $88.77. The stock has a market capitalization of $19.36 billion, a PE ratio of 14.66, a PEG ratio of 1.05 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business’s 50-day moving average is $70.50 and its 200 day moving average is $79.43.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend 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 6.62%. Edison International’s payout ratio is 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.