Edison International (NYSE:EIX – Get Free Report) declared a quarterly dividend on Wednesday, June 24th. Investors of record on Tuesday, July 7th will be given a dividend of 0.8775 per share by the utilities provider on Friday, July 31st. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, July 7th.
Edison International has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 23 consecutive years. Edison International has a dividend payout ratio of 57.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Edison International to earn $6.50 per share next year, which means the company should continue to be able to cover its $3.51 annual dividend with an expected future payout ratio of 54.0%.
Edison International Stock Performance
Shares of EIX opened at $74.16 on Thursday. The business’s fifty day simple moving average is $70.70 and its two-hundred day simple moving average is $67.81. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. Edison International has a 12 month low of $49.14 and a 12 month high of $76.21. The company has a market cap of $28.53 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 1.26 and a beta of 0.67.
Insider Activity at Edison International
In related news, Director Peter J. Taylor sold 500 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $75.30, for a total transaction of $37,650.00. Following the completion of the sale, the director owned 34,212 shares in the company, valued at approximately $2,576,163.60. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.
Institutional Investors Weigh In On Edison International
Large investors have recently made changes to their positions in the company. 10Elms LLP bought a new position in shares of Edison International in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC grew its position in Edison International by 170.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock valued at $27,000 after buying an additional 281 shares during the period. Groupe la Francaise purchased a new stake in Edison International during the first quarter valued at approximately $29,000. Ransom Advisory Ltd increased its holdings in Edison International by 74.9% during the fourth quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. Finally, Ameriflex Group Inc. raised its position in Edison International by 100.0% in the third quarter. Ameriflex Group Inc. now owns 742 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 371 shares during the period. 88.95% of the stock is currently owned by institutional investors.
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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