AustralianSuper Pty Ltd Buys Shares of 399,261 Edison International (NYSE:EIX)

AustralianSuper Pty Ltd acquired a new position in shares of Edison International (NYSE:EIX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 399,261 shares of the utilities provider's stock, valued at approximately $31,877,000. AustralianSuper Pty Ltd owned 0.10% of Edison International as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Crews Bank & Trust bought a new position in Edison International during the 4th quarter worth about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Edison International in the 3rd quarter valued at $26,000. Groupama Asset Managment lifted its stake in shares of Edison International by 0.8% during the 3rd 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 bought a new stake in Edison International during the third quarter valued at about $27,000. Finally, Larson Financial Group LLC boosted its position in Edison International by 125.0% during 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 in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of NYSE:EIX traded up $1.09 during trading on Wednesday, reaching $52.39. The stock had a trading volume of 4,284,284 shares, compared to its average volume of 6,537,817. The business has a fifty day moving average price of $65.84 and a 200-day moving average price of $78.08. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. 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 cap of $20.28 billion, a PE ratio of 15.36, a PEG ratio of 1.03 and a beta of 0.90.

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 paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.32%. This is a positive change from Edison International's previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International's dividend payout ratio (DPR) is 97.07%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $69.00 to $65.00 in a report on Tuesday. LADENBURG THALM/SH SH raised Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They issued a "buy" rating and a $93.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Edison International presently 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.