abrdn plc Increases Stock Holdings in Edison International (NYSE:EIX)

abrdn plc raised its stake in Edison International (NYSE:EIX - Free Report) by 97.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,382 shares of the utilities provider's stock after acquiring an additional 98,591 shares during the quarter. abrdn plc owned approximately 0.05% of Edison International worth $14,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Trust Direct Indexing L.P. raised its holdings in Edison International by 2.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider's stock valued at $418,000 after buying an additional 162 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in Edison International by 2.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider's stock valued at $409,000 after buying an additional 164 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its holdings in Edison International by 3.9% in the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider's stock valued at $281,000 after buying an additional 165 shares during the last quarter. Greenleaf Trust raised its holdings in Edison International by 2.9% in the 3rd quarter. Greenleaf Trust now owns 6,481 shares of the utilities provider's stock valued at $410,000 after buying an additional 185 shares during the last quarter. Finally, Cable Hill Partners LLC raised its holdings in Edison International by 6.0% in the 3rd quarter. Cable Hill Partners LLC now owns 3,336 shares of the utilities provider's stock valued at $211,000 after buying an additional 190 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Trading Down 1.4 %

Shares of EIX stock traded down $0.97 during trading hours on Friday, hitting $70.16. 2,624,967 shares of the company were exchanged, compared to its average volume of 2,184,634. The firm has a market cap of $26.99 billion, a P/E ratio of 22.49 and a beta of 0.96. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.92. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The company has a 50 day simple moving average of $68.98 and a two-hundred day simple moving average of $67.70.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the firm posted $1.14 EPS. Equities analysts anticipate that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International's dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EIX. The Goldman Sachs Group began coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a "neutral" rating and a $78.00 target price for the company. StockNews.com raised shares of Edison International from a "sell" rating to a "hold" rating in a research report on Saturday, February 24th. Barclays increased their target price on shares of Edison International from $69.00 to $70.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. TheStreet downgraded shares of Edison International from a "b" rating to a "c+" rating in a research report on Thursday, February 22nd. Finally, Guggenheim raised shares of Edison International from a "neutral" rating to a "buy" rating and increased their target price for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Edison International presently has an average rating of "Hold" and a consensus target price of $73.60.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.