US Bancorp DE raised its stake in shares of Edison International (NYSE:EIX) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,215 shares of the utilities provider’s stock after buying an additional 1,119 shares during the quarter. US Bancorp DE’s holdings in Edison International were worth $5,452,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Capital International Investors bought a new stake in shares of Edison International in the 3rd quarter worth $95,783,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Edison International in the 3rd quarter worth $557,000. Magnetar Financial LLC bought a new stake in shares of Edison International in the 3rd quarter worth $256,000. Wells Fargo & Company MN increased its holdings in shares of Edison International by 30.3% in the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock worth $198,553,000 after purchasing an additional 598,402 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Edison International by 68.7% in the third quarter. Teacher Retirement System of Texas now owns 185,333 shares of the utilities provider’s stock worth $14,302,000 after acquiring an additional 75,473 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.
Shares of Edison International (NYSE:EIX) traded up $0.96 on Friday, reaching $61.05. The company’s stock had a trading volume of 4,001,365 shares, compared to its average volume of 3,768,073. The firm has a market cap of $19,890.76, a P/E ratio of 13.78, a P/E/G ratio of 2.25 and a beta of 0.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. Edison International has a 12 month low of $57.63 and a 12 month high of $83.38.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were given a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, December 28th. This is a boost from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.96%. Edison International’s dividend payout ratio (DPR) is 54.63%.
Several analysts recently commented on the company. SunTrust Banks reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Edison International in a report on Thursday, December 7th. Mizuho lowered Edison International from a “buy” rating to a “neutral” rating in a report on Wednesday, December 6th. Goldman Sachs Group set a $70.00 price target on Edison International and gave the company a “hold” rating in a report on Friday, December 15th. ValuEngine raised Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Finally, Citigroup set a $87.00 price target on Edison International and gave the company a “hold” rating in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Edison International presently has an average rating of “Hold” and an average price target of $77.21.
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Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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