Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Edison International (NYSE:EIX - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,687 shares of the utilities provider's stock after selling 59,410 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Edison International were worth $14,426,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the business. AMF Tjanstepension AB grew its stake in shares of Edison International by 9.8% in the third quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider's stock worth $23,662,000 after purchasing an additional 24,208 shares in the last quarter. Eastern Bank acquired a new stake in Edison International in the third quarter worth about $27,000. International Assets Investment Management LLC bought a new position in Edison International in the 3rd quarter valued at about $8,879,000. Dakota Wealth Management bought a new position in Edison International in the 3rd quarter valued at about $279,000. Finally, Ballentine Partners LLC acquired a new position in Edison International during the 3rd quarter valued at about $201,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
NYSE EIX opened at $52.10 on Monday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The stock's 50-day moving average price is $64.07 and its two-hundred day moving average price is $77.46. The company has a market cap of $20.17 billion, a PE ratio of 15.28, a PEG ratio of 1.07 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.
The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.35%. This is a positive change from Edison International's previous quarterly dividend of $0.78. Edison International's payout ratio is currently 97.07%.
A number of analysts have recently weighed in on EIX shares. Barclays reduced their price target on shares of Edison International from $76.00 to $67.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Guggenheim downgraded Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and cut their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.11.
Read Our Latest Report on Edison International
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.
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