Edison International $EIX Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd decreased its holdings in shares of Edison International (NYSE:EIX) by 10.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 70,020 shares of the utilities provider’s stock after selling 8,588 shares during the period. Plato Investment Management Ltd’s holdings in Edison International were worth $3,841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Activest Wealth Management lifted its position in Edison International by 677.8% during the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after buying an additional 488 shares during the period. CVA Family Office LLC increased its stake in shares of Edison International by 113.7% during the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 307 shares during the last quarter. Laurel Wealth Advisors LLC lifted its holdings in shares of Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 709 shares during the period. CoreFirst Bank & Trust purchased a new position in shares of Edison International during the 2nd quarter worth about $38,000. Finally, Quent Capital LLC acquired a new stake in shares of Edison International in the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on EIX shares. Wells Fargo & Company lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $56.00 to $59.00 in a research report on Tuesday, January 20th. LADENBURG THALM/SH SH boosted their price objective on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their price target on Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus target price of $63.30.

Edison International Stock Performance

NYSE:EIX opened at $64.06 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 0.94 and a beta of 0.82. The firm’s fifty day simple moving average is $60.17 and its 200 day simple moving average is $57.25. Edison International has a twelve month low of $47.73 and a twelve month high of $64.68.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were paid a dividend of $0.8775 per share. This is a boost from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Wednesday, January 7th. Edison International’s payout ratio is presently 45.88%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.