Truist Financial Corp Lowers Position in Edison International (NYSE:EIX)

Truist Financial Corp cut its stake in Edison International (NYSE:EIX) by 16.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 40,142 shares of the utilities provider’s stock after selling 7,654 shares during the quarter. Truist Financial Corp’s holdings in Edison International were worth $3,205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. Swedbank AB increased its position in shares of Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after acquiring an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Edison International during the fourth quarter valued at approximately $235,000. KBC Group NV increased its position in shares of Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares during the last quarter. abrdn plc increased its position in shares of Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after acquiring an additional 276,656 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Edison International during the third quarter valued at approximately $1,387,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EIX has been the subject of a number of research analyst reports. Barclays decreased their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report 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 objective for the company in a report on Wednesday, January 15th. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.11.

Edison International Price Performance

Edison International stock opened at $52.06 on Tuesday. Edison International has a one year low of $49.06 and a one year high of $88.77. The business has a fifty day moving average price of $63.49 and a 200-day moving average price of $77.25. 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 has a market capitalization of $20.16 billion, a P/E ratio of 15.27, a PEG ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 6.36%. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

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.