M&G PLC Lowers Position in Edison International $EIX

M&G PLC decreased its stake in shares of Edison International (NYSE:EIX) by 40.3% in the third quarter, Holdings Channel.com reports. The fund owned 915,730 shares of the utilities provider’s stock after selling 618,943 shares during the period. M&G PLC’s holdings in Edison International were worth $50,365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Edison International by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 51,739,673 shares of the utilities provider’s stock worth $2,860,169,000 after acquiring an additional 269,556 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Edison International by 2.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 134,874 shares of the utilities provider’s stock worth $7,456,000 after purchasing an additional 3,119 shares during the period. PNC Financial Services Group Inc. raised its holdings in Edison International by 12.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 61,087 shares of the utilities provider’s stock valued at $3,377,000 after buying an additional 6,550 shares during the period. GenTrust LLC purchased a new stake in shares of Edison International in the third quarter valued at $215,000. Finally, Aberdeen Group plc boosted its position in shares of Edison International by 3.4% during the third quarter. Aberdeen Group plc now owns 634,316 shares of the utilities provider’s stock valued at $34,811,000 after buying an additional 20,835 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on EIX shares. Barclays cut their price objective 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. 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. LADENBURG THALM/SH SH upped their target price on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen lowered Edison International from a “buy” rating to a “hold” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and an average target price of $64.10.

Edison International Stock Performance

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

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend 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.