Edison International (NYSE:EIX) Shares Purchased by abrdn plc

abrdn plc increased its stake in shares of Edison International (NYSE:EIX) by 97.8% in the 4th quarter, Holdings Channel reports. The firm owned 199,382 shares of the utilities provider’s stock after purchasing an additional 98,591 shares during the period. abrdn plc’s holdings in Edison International were worth $14,254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of EIX. Exchange Traded Concepts LLC raised its position in shares of Edison International by 38.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,592 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 445 shares during the last quarter. Caprock Group LLC raised its holdings in Edison International by 10.2% in the 3rd quarter. Caprock Group LLC now owns 12,560 shares of the utilities provider’s stock valued at $804,000 after acquiring an additional 1,165 shares during the last quarter. UMB Bank n.a. raised its holdings in Edison International by 17.9% in the 3rd quarter. UMB Bank n.a. now owns 2,191 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 333 shares during the last quarter. Czech National Bank raised its holdings in Edison International by 47.8% in the 3rd quarter. Czech National Bank now owns 66,991 shares of the utilities provider’s stock valued at $4,240,000 after acquiring an additional 21,654 shares during the last quarter. Finally, Spirit of America Management Corp NY raised its holdings in Edison International by 20.4% in the 3rd quarter. Spirit of America Management Corp NY now owns 6,200 shares of the utilities provider’s stock valued at $392,000 after acquiring an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE:EIX opened at $71.12 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The stock has a market capitalization of $27.36 billion, a P/E ratio of 22.79 and a beta of 0.96. The company has a 50 day moving average price of $68.91 and a 200 day moving average price of $67.65. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.92.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same quarter last year, the company posted $1.14 EPS. Equities research analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on EIX. Barclays increased their price objective on shares of Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Mizuho cut their price objective on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, January 25th. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. The Goldman Sachs Group assumed coverage on shares of Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Royal Bank of Canada cut their price target on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Edison International currently has a consensus rating of “Hold” and an average price target of $73.60.

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.