Global Retirement Partners LLC Has $1.61 Million Stock Holdings in Edison International (NYSE:EIX)

Global Retirement Partners LLC increased its holdings in shares of Edison International (NYSE:EIX) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,148 shares of the utilities provider’s stock after purchasing an additional 837 shares during the period. Global Retirement Partners LLC’s holdings in Edison International were worth $1,609,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the period. abrdn plc raised its holdings in shares of Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Edison International in the 4th quarter valued at about $31,877,000. Finally, Miller Howard Investments Inc. NY raised its stake in Edison International by 565.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock worth $27,400,000 after buying an additional 291,619 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $69.00 to $65.00 in a research note on Tuesday. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Morgan Stanley reduced their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Finally, Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Stock Down 1.1 %

Shares of NYSE:EIX opened at $51.86 on Friday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a market capitalization of $20.08 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90. The business has a fifty day moving average price of $65.26 and a two-hundred day moving average price of $77.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 6.38%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is presently 97.07%.

Edison International Profile

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.