UBS Asset Management Americas Inc. increased its holdings in shares of Edison International (NYSE:EIX) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,702,528 shares of the utilities provider’s stock after purchasing an additional 88,615 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.45% of Edison International worth $106,953,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Bessemer Group Inc. lifted its holdings in Edison International by 4.0% in the 4th quarter. Bessemer Group Inc. now owns 4,594 shares of the utilities provider’s stock worth $288,000 after purchasing an additional 175 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Edison International by 4.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 4,792 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 192 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Edison International by 29.4% in the 4th quarter. Meeder Asset Management Inc. now owns 853 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 194 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in Edison International by 2.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,997 shares of the utilities provider’s stock worth $616,000 after purchasing an additional 236 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Edison International by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 38,573 shares of the utilities provider’s stock valued at $2,423,000 after purchasing an additional 252 shares during the last quarter. 87.58% of the stock is currently owned by institutional investors.
Shares of EIX stock opened at $59.96 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.21. The company has a market cap of $22.75 billion, a PE ratio of 60.57, a PEG ratio of 4.59 and a beta of 0.52. Edison International has a 12-month low of $48.47 and a 12-month high of $66.68. The business’s fifty day simple moving average is $57.78 and its 200-day simple moving average is $59.06.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Wednesday, March 31st will be paid a $0.6625 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Tuesday, March 30th. Edison International’s dividend payout ratio (DPR) is presently 56.38%.
EIX has been the topic of a number of research analyst reports. KeyCorp boosted their target price on Edison International from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 12th. Morgan Stanley upped their price objective on Edison International from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, March 25th. Wells Fargo & Company raised shares of Edison International from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $65.00 to $71.00 in a report on Wednesday, January 6th. Finally, TheStreet raised shares of Edison International from a “c+” rating to a “b” rating in a research note on Thursday, February 25th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.91.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. The company generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. It 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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