Citizens Financial Group Inc. RI purchased a new position in Edison International (NYSE:EIX – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,346 shares of the utilities provider’s stock, valued at approximately $994,000.
Several other large investors also recently modified their holdings of the company. Groupe la Francaise purchased a new stake in Edison International during the first quarter valued at $29,000. Bell Investment Advisors Inc bought a new stake in Edison International during the second quarter valued at approximately $31,000. 10Elms LLP bought a new stake in Edison International during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC increased its holdings 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 last quarter. Finally, Altshuler Shaham Ltd increased its holdings in Edison International by 36.6% during the first quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock valued at $42,000 after buying an additional 155 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.
Edison International Stock Performance
EIX opened at $73.73 on Wednesday. The company has a 50 day simple moving average of $74.08 and a two-hundred day simple moving average of $71.81. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a market cap of $28.37 billion, a P/E ratio of 7.60, a PEG ratio of 5.54 and a beta of 0.66. Edison International has a 1-year low of $52.00 and a 1-year high of $81.62.
Edison International Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is 36.19%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a research note on Tuesday, August 4th. Mizuho upped their price objective on Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Barclays reaffirmed an “equal weight” rating and issued a $75.00 target price (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Weiss Ratings downgraded Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus target price of $72.82.
Check Out Our Latest Stock Analysis on EIX
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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