ING Groep NV Purchases 152,522 Shares of Edison International $EIX

ING Groep NV grew its position in shares of Edison International (NYSE:EIX) by 84.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 333,097 shares of the utilities provider’s stock after purchasing an additional 152,522 shares during the period. ING Groep NV owned about 0.09% of Edison International worth $18,414,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of EIX. Krilogy Financial LLC boosted its stake in Edison International by 141.8% in the third quarter. Krilogy Financial LLC now owns 30,035 shares of the utilities provider’s stock worth $1,705,000 after buying an additional 17,616 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Edison International by 38.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 111,281 shares of the utilities provider’s stock worth $6,152,000 after acquiring an additional 31,058 shares during the last quarter. Versor Investments LP boosted its stake in shares of Edison International by 55.0% in the 3rd quarter. Versor Investments LP now owns 51,830 shares of the utilities provider’s stock valued at $2,865,000 after purchasing an additional 18,381 shares in the last quarter. Rockland Trust Co. grew its holdings in shares of Edison International by 77.3% during the 3rd quarter. Rockland Trust Co. now owns 15,508 shares of the utilities provider’s stock valued at $857,000 after purchasing an additional 6,761 shares during the last quarter. Finally, First National Trust Co bought a new stake in Edison International in the third quarter worth $1,014,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Trading Up 2.6%

Shares of EIX opened at $67.19 on Thursday. Edison International has a 1-year low of $47.73 and a 1-year high of $67.21. 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’s 50-day moving average price is $60.65 and its 200-day moving average price is $57.53. The firm has a market capitalization of $25.85 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.96 and a beta of 0.82.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were given a $0.8775 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $3.51 annualized dividend and a dividend yield of 5.2%. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio is currently 45.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Thursday, January 15th. Barclays reduced their price target on Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Wells Fargo & Company downgraded Edison International from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $56.00 to $59.00 in a research report on Tuesday, January 20th. LADENBURG THALM/SH SH raised their target price on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, TD Cowen assumed coverage on shares of Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.30.

About Edison International

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.