Wilmington Savings Fund Society FSB Acquires 1,067 Shares of Edison International (NYSE:EIX)

Wilmington Savings Fund Society FSB boosted its holdings in Edison International (NYSE:EIX) by 49.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,231 shares of the utilities provider’s stock after acquiring an additional 1,067 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Edison International were worth $258,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after buying an additional 224,337 shares in the last quarter. FMR LLC grew its position in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. Geode Capital Management LLC raised its stake in Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after acquiring an additional 210,461 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after acquiring an additional 28,240 shares during the period. Finally, abrdn plc boosted its stake in shares of Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after purchasing an additional 276,656 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Up 1.3 %

Shares of NYSE:EIX opened at $50.84 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.05 and a beta of 0.90. The company has a 50 day moving average of $69.79 and a 200-day moving average of $79.30. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.51%. Edison International’s payout ratio is presently 97.07%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EIX. UBS Group dropped their target price on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Barclays cut their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Company 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.