Rhumbline Advisers Has $59.71 Million Position in Edison International (NYSE:EIX)

Rhumbline Advisers reduced its holdings in Edison International (NYSE:EIX - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 747,901 shares of the utilities provider's stock after selling 11,319 shares during the period. Rhumbline Advisers owned about 0.19% of Edison International worth $59,712,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp lifted its position in shares of Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider's stock worth $2,834,774,000 after purchasing an additional 224,337 shares in the last quarter. FMR LLC increased its stake in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the period. Geode Capital Management LLC increased its stake in Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider's stock valued at $835,142,000 after buying an additional 210,461 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Edison International by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider's stock worth $203,801,000 after buying an additional 28,240 shares in the last quarter. Finally, abrdn plc boosted its stake in shares of Edison International by 19.5% during the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider's stock valued at $134,335,000 after buying an additional 276,656 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

NYSE:EIX traded down $0.56 during midday trading on Thursday, reaching $51.86. The stock had a trading volume of 3,676,295 shares, compared to its average volume of 6,451,110. The stock has a market capitalization of $20.08 billion, a P/E ratio of 15.21, a PEG ratio of 1.05 and a beta of 0.90. 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 current ratio of 0.88 and a quick ratio of 0.81. The firm's fifty day simple moving average is $65.26 and its 200-day simple moving average is $77.90.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were given a $0.8275 dividend. This is an increase from Edison International's previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International's dividend payout ratio (DPR) is currently 97.07%.

Analyst Ratings Changes

A number of research firms have recently weighed in on EIX. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Morgan Stanley cut their price target on Edison International from $71.00 to $48.00 and set an "underweight" rating for the company in a research note on Friday, February 14th. LADENBURG THALM/SH SH upgraded 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. JPMorgan Chase & Co. restated a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Finally, Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. One 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.11.

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.