Aberdeen Group plc Grows Stake in Edison International $EIX

Aberdeen Group plc grew its stake in shares of Edison International (NYSE:EIX) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 634,316 shares of the utilities provider’s stock after acquiring an additional 20,835 shares during the quarter. Aberdeen Group plc owned about 0.16% of Edison International worth $34,811,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in Edison International by 677.8% in the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after buying an additional 488 shares during the last quarter. CVA Family Office LLC raised its holdings in Edison International by 113.7% in the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 307 shares during the last quarter. Laurel Wealth Advisors LLC raised its holdings in Edison International by 5,064.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 709 shares during the last quarter. CoreFirst Bank & Trust bought a new position in Edison International in the 2nd quarter valued at approximately $38,000. Finally, Quent Capital LLC purchased a new stake in Edison International during the 3rd quarter valued at $40,000. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE:EIX opened at $71.43 on Tuesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The stock has a 50-day simple moving average of $61.45 and a two-hundred day simple moving average of $57.96. The firm has a market capitalization of $27.49 billion, a PE ratio of 9.34, a P/E/G ratio of 1.05 and a beta of 0.82. Edison International has a 52-week low of $47.73 and a 52-week high of $71.61.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio (DPR) is 45.88%.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent analyst reports. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $56.00 to $59.00 in a research note on Tuesday, January 20th. Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Jefferies Financial Group reduced their price target on shares of Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Finally, Wall Street Zen downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $64.10.

About Edison International

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.