Van ECK Associates Corp Boosts Holdings in Edison International (NYSE:EIX)

Van ECK Associates Corp grew its position in Edison International (NYSE:EIX) by 47.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,355 shares of the utilities provider’s stock after acquiring an additional 51,639 shares during the quarter. Van ECK Associates Corp’s holdings in Edison International were worth $12,883,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its position in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. abrdn plc raised its holdings in shares of Edison International by 166.4% in 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. lifted its stake 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 acquiring an additional 422,752 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings 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 valued at $27,400,000 after acquiring an additional 291,619 shares during the period. Finally, State Street Corp grew its position in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after acquiring an additional 224,337 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

EIX opened at $50.11 on Friday. The firm has a market capitalization of $19.40 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90. The business’s 50-day moving average is $67.14 and its two-hundred day moving average is $78.53. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were given a $0.8275 dividend. 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 6.61%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is presently 97.07%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EIX shares. Barclays decreased their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. UBS Group lowered their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Morgan Stanley reduced their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Edison International has a consensus rating of “Hold” and a consensus price target of $80.39.

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.