Baillie Gifford & Co. Purchases Shares of 18,900 Edison International (NYSE:EIX)

Baillie Gifford & Co. purchased a new stake in Edison International (NYSE:EIX) during the 4th quarter, Holdings Channel reports. The firm purchased 18,900 shares of the utilities provider’s stock, valued at approximately $1,509,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. AMF Tjanstepension AB increased its stake in Edison International by 9.8% in the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock valued at $23,662,000 after buying an additional 24,208 shares during the last quarter. Creative Planning increased its stake in shares of Edison International by 6.4% during the 3rd quarter. Creative Planning now owns 50,962 shares of the utilities provider’s stock worth $4,438,000 after purchasing an additional 3,078 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Edison International by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 2,465 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 1,417 shares during the last quarter. Raymond James & Associates increased its stake in shares of Edison International by 6.2% during the 3rd quarter. Raymond James & Associates now owns 403,309 shares of the utilities provider’s stock worth $35,124,000 after purchasing an additional 23,441 shares during the last quarter. Finally, OLD National Bancorp IN acquired a new position in shares of Edison International during the 3rd quarter worth about $208,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reduced their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Morgan Stanley reduced their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Tuesday. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.11.

Edison International Stock Performance

Shares of Edison International stock opened at $51.17 on Wednesday. The company has a 50 day moving average of $66.48 and a 200-day moving average of $78.30. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market cap of $19.81 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders 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 dividend yield of 6.47%. The ex-dividend date was Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

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.