Edison International (NYSE:EIX) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in shares of Edison International (NYSE:EIX) by 814.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,521 shares of the utilities provider’s stock after acquiring an additional 199,979 shares during the period. Handelsbanken Fonder AB’s holdings in Edison International were worth $17,926,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Lake Street Advisors Group LLC grew its holdings in shares of Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC grew its holdings in shares of Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares in the last quarter. SFE Investment Counsel grew its holdings in shares of Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after purchasing an additional 130 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 157 shares in the last quarter. Finally, Centennial Wealth Advisory LLC grew its holdings in Edison International by 3.3% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock worth $468,000 after acquiring an additional 172 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of EIX opened at $52.10 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market capitalization of $20.17 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.08 and a beta of 0.90. The company’s fifty day moving average is $64.67 and its two-hundred day moving average is $77.72. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a $0.8275 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $69.00 to $65.00 in a report on Tuesday. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Barclays lowered their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

About Edison International

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.