Signet Financial Management LLC bought a new stake in Edison International (NYSE:EIX – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,727 shares of the utilities provider’s stock, valued at approximately $639,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in EIX. 10Elms LLP acquired a new position in Edison International during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC boosted its holdings in shares of Edison International by 170.3% in the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 281 shares in the last quarter. Ransom Advisory Ltd increased its stake in shares of Edison International by 74.9% in the 4th quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. Quest 10 Wealth Builders Inc. increased its stake in shares of Edison International by 866.7% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 702 shares during the last quarter. Finally, DV Equities LLC acquired a new position in shares of Edison International during the 4th quarter worth $52,000. Institutional investors own 88.95% of the company’s stock.
Edison International Price Performance
Edison International stock opened at $76.64 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $29.49 billion, a PE ratio of 8.32, a P/E/G ratio of 1.33 and a beta of 0.66. Edison International has a 12 month low of $50.45 and a 12 month high of $77.95. The stock has a 50-day moving average price of $72.35 and a two-hundred day moving average price of $69.54.
Edison International Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International’s payout ratio is presently 38.11%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Truist Financial dropped their price objective on Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Seaport Research Partners cut Edison International from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Wells Fargo & Company reissued an “underweight” rating and set a $62.00 target price on shares of Edison International in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their target price on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, Barclays raised their price target on shares of Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Edison International currently has an average rating of “Hold” and a consensus price target of $72.73.
Check Out Our Latest Analysis on Edison International
About Edison International
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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