Edison International $EIX Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of Edison International (NYSE:EIX) by 22.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 165,585 shares of the utilities provider’s stock after selling 48,895 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Edison International were worth $9,154,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in Edison International by 169.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,843 shares of the utilities provider’s stock valued at $6,901,000 after purchasing an additional 78,531 shares during the period. Nordea Investment Management AB boosted its holdings in Edison International by 1.7% in the 3rd quarter. Nordea Investment Management AB now owns 1,695,550 shares of the utilities provider’s stock worth $92,984,000 after acquiring an additional 28,586 shares during the period. Convergence Investment Partners LLC grew its position in Edison International by 67.6% in the third quarter. Convergence Investment Partners LLC now owns 27,017 shares of the utilities provider’s stock valued at $1,494,000 after acquiring an additional 10,901 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Edison International by 5.3% during the second quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock valued at $18,809,000 after purchasing an additional 18,412 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Edison International during the second quarter valued at approximately $456,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EIX. Barclays decreased their target price on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded Edison International from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. Morgan Stanley reissued an “underweight” rating on shares of Edison International in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $56.00 to $59.00 in a research note on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.30.

Edison International Price Performance

Shares of NYSE EIX opened at $63.66 on Friday. 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 company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 0.93 and a beta of 0.82. Edison International has a twelve month low of $47.73 and a twelve month high of $63.99. The business has a 50 day simple moving average of $60.07 and a 200-day simple moving average of $57.12.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were issued a $0.8775 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. Edison International’s dividend payout ratio is 45.88%.

Edison International 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.