Schroder Investment Management Group grew its stake in Edison International (NYSE:EIX) by 4,409.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,609 shares of the utilities provider’s stock after buying an additional 48,509 shares during the quarter. Schroder Investment Management Group’s holdings in Edison International were worth $3,358,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Covalis Capital LLP acquired a new position in shares of Edison International in the second quarter valued at approximately $11,857,000. Nisa Investment Advisors LLC boosted its holdings in shares of Edison International by 17.0% in the third quarter. Nisa Investment Advisors LLC now owns 37,125 shares of the utilities provider’s stock valued at $2,513,000 after buying an additional 5,385 shares during the period. AMP Capital Investors Ltd boosted its holdings in shares of Edison International by 16.4% in the second quarter. AMP Capital Investors Ltd now owns 673,119 shares of the utilities provider’s stock valued at $42,588,000 after buying an additional 94,850 shares during the period. KCS Wealth Advisory boosted its holdings in shares of Edison International by 15.8% in the third quarter. KCS Wealth Advisory now owns 13,739 shares of the utilities provider’s stock valued at $930,000 after buying an additional 1,872 shares during the period. Finally, Commonwealth Bank of Australia boosted its holdings in shares of Edison International by 35.3% in the second quarter. Commonwealth Bank of Australia now owns 49,681 shares of the utilities provider’s stock valued at $3,136,000 after buying an additional 12,971 shares during the period. Institutional investors own 83.35% of the company’s stock.
Shares of EIX stock opened at $58.51 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market capitalization of $18.75 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 2.34 and a beta of -0.01. Edison International has a 12 month low of $45.50 and a 12 month high of $73.31.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be given a dividend of $0.6125 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Friday, December 28th. Edison International’s dividend payout ratio is 53.78%.
Several research firms have recently weighed in on EIX. Morgan Stanley upped their price target on shares of Edison International from $72.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. ValuEngine upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Friday. Goldman Sachs Group set a $69.00 price target on shares of Edison International and gave the company a “hold” rating in a report on Friday, September 14th. Bank of America lowered shares of Edison International from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, October 11th. Finally, Mizuho raised shares of Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $62.00 to $57.50 in a research report on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $69.96.
Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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