Mediolanum International Funds Ltd Invests $583,000 in Edison International (NYSE:EIX)

Mediolanum International Funds Ltd purchased a new position in shares of Edison International (NYSE:EIX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,339 shares of the utilities provider’s stock, valued at approximately $583,000.

A number of other institutional investors and hedge funds have also made changes to their positions in EIX. FMR LLC increased its stake in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. abrdn plc grew its position in Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after buying an additional 422,752 shares during the period. State Street Corp grew its position in Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after buying an additional 224,337 shares during the period. Finally, Geode Capital Management LLC grew its position in Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after buying an additional 210,461 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EIX. Morgan Stanley lowered their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company upped their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. UBS Group lowered their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Stock Down 0.1 %

Shares of NYSE EIX opened at $53.98 on Monday. Edison International has a 1 year low of $53.26 and a 1 year high of $88.77. The firm’s 50 day moving average price is $74.15 and its 200 day moving average price is $80.29. The firm has a market cap of $20.90 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International Increases Dividend

The company also recently announced 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 was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.13%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 97.07%.

About 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.