Schafer Cullen Capital Management Inc. decreased its holdings in shares of Edison International (NYSE:EIX) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,106 shares of the utilities provider’s stock after selling 35,554 shares during the period. Schafer Cullen Capital Management Inc. owned about 0.10% of Edison International worth $20,433,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors acquired a new stake in shares of Edison International during the third quarter worth approximately $95,783,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Edison International during the third quarter worth approximately $557,000. Wells Fargo & Company MN increased its holdings in shares of Edison International by 2.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,640,821 shares of the utilities provider’s stock worth $167,006,000 after buying an additional 67,884 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Edison International during the third quarter worth approximately $256,000. Finally, Toronto Dominion Bank increased its holdings in shares of Edison International by 13.6% during the fourth quarter. Toronto Dominion Bank now owns 140,345 shares of the utilities provider’s stock worth $8,875,000 after buying an additional 16,757 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.
Edison International (EIX) traded down $0.35 on Tuesday, reaching $63.68. 136,714 shares of the company’s stock were exchanged, compared to its average volume of 3,666,612. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.84. Edison International has a 12-month low of $57.63 and a 12-month high of $83.38. The firm has a market cap of $21,226.60, a price-to-earnings ratio of 37.23, a PEG ratio of 2.65 and a beta of 0.20.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Wednesday, March 28th. Edison International’s dividend payout ratio is presently 140.70%.
EIX has been the subject of several recent analyst reports. ValuEngine lowered shares of Edison International from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Mizuho lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Wednesday, December 6th. Deutsche Bank lowered their price target on shares of Edison International to $78.00 and set a “hold” rating for the company in a report on Wednesday, December 6th. SunTrust Banks reissued a “buy” rating and issued a $85.00 price target on shares of Edison International in a report on Thursday, December 7th. Finally, Citigroup set a $87.00 price target on shares of Edison International and gave the company a “hold” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target 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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