Sei Investments Co. boosted its position in shares of Edison International (NYSE:EIX – Free Report) by 169.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 697,716 shares of the utilities provider’s stock after buying an additional 438,407 shares during the period. Sei Investments Co.’s holdings in Edison International were worth $51,058,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. 10Elms LLP acquired a new position in shares of Edison International in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC lifted its holdings in shares of Edison International by 170.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 281 shares during the period. Quest 10 Wealth Builders Inc. boosted its position in shares of Edison International by 866.7% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 702 shares in the last quarter. DV Equities LLC acquired a new stake in shares of Edison International during the 4th quarter worth approximately $52,000. Finally, McMillan Office Inc. acquired a new stake in shares of Edison International during the 4th quarter worth approximately $55,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Edison International Price Performance
EIX stock opened at $79.71 on Friday. The company has a 50 day simple moving average of $73.56 and a 200 day simple moving average of $70.38. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 6.20 and a beta of 0.66. Edison International has a 1 year low of $51.01 and a 1 year high of $80.90. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68.
Edison International Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, July 7th. Edison International’s dividend payout ratio is presently 38.11%.
Analysts Set New Price Targets
Several research analysts have commented on EIX shares. Truist Financial lowered their price objective on shares of Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, May 18th. JPMorgan Chase & Co. raised their target price on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Edison International in a research note on Monday, July 13th. Barclays lifted their price target on Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $62.00 price objective on shares of Edison International in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $72.64.
Check Out Our Latest Stock Report 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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