Edison International $EIX Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its stake in Edison International (NYSE:EIX) by 70.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,389 shares of the utilities provider’s stock after selling 58,733 shares during the period. Shell Asset Management Co.’s holdings in Edison International were worth $1,348,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group cut Edison International from a “buy” rating to a “neutral” rating and raised their target price for the stock from $70.00 to $78.00 in a research report on Friday. Jefferies Financial Group decreased their price objective on shares of Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Barclays reduced their price objective on Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Zacks Research cut Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, LADENBURG THALM/SH SH increased their target price on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Edison International has a consensus rating of “Hold” and an average target price of $64.10.

Edison International Stock Up 3.4%

NYSE:EIX opened at $71.43 on Monday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. Edison International has a 52-week low of $47.73 and a 52-week high of $71.61. The stock has a 50-day simple moving average of $61.15 and a 200 day simple moving average of $57.82. The company has a market cap of $27.49 billion, a PE ratio of 9.34, a PEG ratio of 1.05 and a beta of 0.82.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.9%. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, January 7th. Edison International’s dividend payout ratio is currently 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.