Transamerica Financial Advisors LLC acquired a new stake in shares of Edison International (NYSE:EIX – Free Report) during the 2nd quarter, Holdings Channel reports. The firm acquired 102,252 shares of the utilities provider’s stock, valued at approximately $7,613,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. 10Elms LLP acquired a new stake in shares of Edison International in the 4th quarter valued at about $26,000. Edmond DE Rothschild Holding S.A. bought a new stake in Edison International in the 2nd quarter valued at about $26,000. Groupe la Francaise acquired a new position in Edison International during the 1st quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Edison International during the 2nd quarter worth approximately $30,000. Finally, Bell Investment Advisors Inc bought a new position in Edison International in the second quarter worth approximately $31,000. Institutional investors own 88.95% of the company’s stock.
Edison International Trading Down 0.1%
Shares of Edison International stock opened at $74.69 on Thursday. The company has a market capitalization of $28.74 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. The stock has a fifty day simple moving average of $74.30 and a 200 day simple moving average of $72.30. Edison International has a 12-month low of $52.00 and a 12-month high of $81.62. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 4.7%. Edison International’s payout ratio is 36.19%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Weiss Ratings cut Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Barclays reaffirmed an “equal weight” rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Argus reissued a “hold” rating on shares of Edison International in a research report on Wednesday. Truist Financial decreased their price target on shares of Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Finally, Morgan Stanley lowered their price objective on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a report on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $72.45.
View Our Latest Stock 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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