ING Groep NV Decreases Stake in Edison International (NYSE:EIX)

ING Groep NV lessened its stake in Edison International (NYSE:EIX) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 50,694 shares of the utilities provider’s stock after selling 3,448 shares during the quarter. ING Groep NV’s holdings in Edison International were worth $4,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EIX. Crews Bank & Trust purchased a new position in Edison International in the fourth quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new position in Edison International in the 3rd quarter valued at approximately $26,000. Groupama Asset Managment raised its holdings in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Eastern Bank purchased a new stake in Edison International during the third quarter worth $27,000. Finally, Larson Financial Group LLC grew its holdings in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 0.4 %

EIX opened at $52.10 on Friday. The firm’s 50 day moving average is $64.07 and its 200-day moving average is $77.52. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $20.17 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were issued a $0.8275 dividend. This is a positive change 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 Analyst Weigh In

EIX has been the subject of several recent research reports. Barclays dropped their target price 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. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.11.

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.