OneAscent Financial Services LLC bought a new position in shares of Edison International (NYSE:EIX – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,288 shares of the utilities provider’s stock, valued at approximately $692,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. BlackRock Inc. acquired a new position in shares of Edison International in the 2nd quarter valued at about $3,340,412,000. AQR Capital Management LLC grew its holdings in Edison International by 69.9% in the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after purchasing an additional 7,521,168 shares during the period. Norges Bank acquired a new stake in Edison International in the fourth quarter valued at approximately $339,311,000. Bank of New York Mellon Corp purchased a new stake in shares of Edison International in the second quarter valued at approximately $309,361,000. Finally, Deutsche Bank AG purchased a new stake in shares of Edison International in the second quarter valued at approximately $167,095,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Edison International Price Performance
Edison International stock opened at $74.75 on Friday. Edison International has a 12-month low of $52.00 and a 12-month high of $81.62. The stock has a market cap of $28.76 billion, a P/E ratio of 7.71, a PEG ratio of 5.70 and a beta of 0.66. The company has a 50-day moving average price of $74.16 and a 200 day moving average price of $71.98. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95.
Edison International Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 4.7%. The ex-dividend date was Tuesday, July 7th. Edison International’s dividend payout ratio is presently 36.19%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on EIX. Morgan Stanley reiterated an “underweight” rating and set a $69.00 target price on shares of Edison International in a research report on Wednesday, July 22nd. Barclays reissued an “equal weight” rating and issued a $75.00 price target (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Truist Financial dropped their target price on shares of Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a research report on Tuesday, August 4th. Mizuho boosted their target price on shares of Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus price target of $72.82.
View Our Latest Research Report on Edison International
Edison International Company Profile
Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.
The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.
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