Mirae Asset Global Investments Co. Ltd. Boosts Position in Edison International $EIX

Mirae Asset Global Investments Co. Ltd. raised its position in Edison International (NYSE:EIX) by 169.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,843 shares of the utilities provider’s stock after acquiring an additional 78,531 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Edison International were worth $6,901,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Edison International by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,047,712 shares of the utilities provider’s stock worth $168,478,000 after purchasing an additional 207,748 shares during the period. Ballentine Partners LLC increased its holdings in Edison International by 8.5% during the third quarter. Ballentine Partners LLC now owns 6,097 shares of the utilities provider’s stock valued at $337,000 after buying an additional 479 shares during the last quarter. Stablepoint Partners LLC raised its position in Edison International by 17.4% in the third quarter. Stablepoint Partners LLC now owns 86,174 shares of the utilities provider’s stock worth $4,764,000 after acquiring an additional 12,755 shares during the period. Stonegate Investment Group LLC purchased a new position in shares of Edison International during the 3rd quarter worth $286,000. Finally, CFS Investment Advisory Services LLC bought a new stake in shares of Edison International during the 3rd quarter valued at $247,000. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $56.00 to $59.00 in a report on Tuesday, January 20th. JPMorgan Chase & Co. upped their price target on Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group lowered their price objective on Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday. Morgan Stanley reissued an “underweight” rating on shares of Edison International in a report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research note on Thursday, January 15th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.30.

Edison International Stock Up 0.1%

NYSE EIX opened at $62.23 on Friday. Edison International has a 12 month low of $47.73 and a 12 month high of $63.19. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The stock has a market cap of $23.95 billion, a PE ratio of 8.13, a P/E/G ratio of 0.91 and a beta of 0.83. The stock’s 50 day moving average is $59.81 and its 200 day moving average is $56.85.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were given a dividend of $0.8775 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 45.88%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.