Blue Trust Inc. Sells 1,145 Shares of Edison International (NYSE:EIX)

Blue Trust Inc. reduced its stake in Edison International (NYSE:EIX) by 46.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,320 shares of the utilities provider’s stock after selling 1,145 shares during the quarter. Blue Trust Inc.’s holdings in Edison International were worth $105,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. 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 last quarter. abrdn plc grew its stake in Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after buying an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after buying an additional 422,752 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Edison International in the 4th quarter valued at about $31,877,000. Finally, Miller Howard Investments Inc. NY grew its stake in Edison International by 565.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock valued at $27,400,000 after buying an additional 291,619 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Performance

NYSE EIX opened at $52.10 on Friday. The company’s 50 day moving average is $64.07 and its 200-day moving average is $77.52. Edison International has a 12-month low of $49.06 and a 12-month 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 cap of $20.17 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EIX shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Barclays lowered their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, LADENBURG THALM/SH SH upgraded shares of 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. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average target price 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.