Candriam Luxembourg S.C.A. trimmed its position in Edison International (NYSE:EIX) by 21.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,638 shares of the utilities provider’s stock after selling 17,589 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Edison International were worth $4,724,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of EIX. Atticus Wealth Management LLC bought a new stake in Edison International during the 4th quarter worth approximately $53,000. Resources Management Corp CT ADV bought a new stake in Edison International during the 3rd quarter worth approximately $57,000. Quest Capital Management Inc. ADV bought a new stake in Edison International during the 3rd quarter worth approximately $59,000. Baystate Wealth Management LLC increased its holdings in Edison International by 1,444.2% during the 4th quarter. Baystate Wealth Management LLC now owns 803 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 751 shares in the last quarter. Finally, Gradient Investments LLC increased its holdings in Edison International by 60.9% during the 4th quarter. Gradient Investments LLC now owns 1,057 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 400 shares in the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on EIX. UBS Group boosted their price objective on Edison International from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Bank of America set a $73.00 price objective on Edison International and gave the stock a “hold” rating in a report on Friday, November 1st. SunTrust Banks boosted their price objective on Edison International from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Citigroup boosted their price objective on Edison International from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Mizuho decreased their price objective on Edison International from $86.00 to $84.00 and set a “buy” rating for the company in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Edison International presently has a consensus rating of “Hold” and a consensus price target of $79.90.
EIX stock opened at $77.14 on Friday. The firm has a market cap of $27.74 billion, a PE ratio of 16.67, a P/E/G ratio of 3.15 and a beta of 0.13. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average of $76.29 and a 200-day moving average of $72.72. Edison International has a 12-month low of $57.63 and a 12-month high of $78.93.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.6375 dividend. The ex-dividend date of this dividend was Monday, December 30th. This is a positive change from Edison International’s previous quarterly dividend of $0.61. This represents a $2.55 annualized dividend and a dividend yield of 3.31%. Edison International’s dividend payout ratio is currently 61.45%.
Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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