KCM Investment Advisors LLC boosted its stake in shares of Edison International (NYSE:EIX) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,950 shares of the utilities provider’s stock after purchasing an additional 3,261 shares during the quarter. KCM Investment Advisors LLC’s holdings in Edison International were worth $9,989,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Maple Brown Abbott Ltd bought a new stake in shares of Edison International in the fourth quarter valued at approximately $1,192,752,000. BlackRock Inc. boosted its position in shares of Edison International by 7.4% in the fourth quarter. BlackRock Inc. now owns 26,746,136 shares of the utilities provider’s stock valued at $1,691,424,000 after acquiring an additional 1,832,822 shares during the period. Geode Capital Management LLC boosted its position in shares of Edison International by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 3,529,323 shares of the utilities provider’s stock valued at $222,735,000 after acquiring an additional 193,975 shares during the period. Deutsche Bank AG boosted its position in shares of Edison International by 4.6% in the fourth quarter. Deutsche Bank AG now owns 3,415,561 shares of the utilities provider’s stock valued at $215,994,000 after acquiring an additional 150,064 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Edison International by 5.8% in the third quarter. Legal & General Group Plc now owns 2,750,911 shares of the utilities provider’s stock valued at $212,288,000 after acquiring an additional 149,780 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.
Edison International stock opened at $62.15 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.53 and a quick ratio of 0.49. Edison International has a 12 month low of $57.63 and a 12 month high of $83.38. The company has a market capitalization of $20,441.39, a price-to-earnings ratio of 36.01, a P/E/G ratio of 2.55 and a beta of 0.20.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.605 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.42 annualized dividend and a yield of 3.89%. Edison International’s dividend payout ratio is currently 140.70%.
Several equities research analysts have recently weighed in on EIX shares. Citigroup set a $87.00 price objective on Edison International and gave the company a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. ValuEngine lowered Edison International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Edward Jones lowered Edison International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $76.86.
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Edison International Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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