Plan Group Financial LLC Has $346,000 Stock Position in Edison International (NYSE:EIX)

Plan Group Financial LLC boosted its stake in Edison International (NYSE:EIX) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,333 shares of the utilities provider’s stock after acquiring an additional 220 shares during the period. Plan Group Financial LLC’s holdings in Edison International were worth $346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EIX. CIBC Asset Management Inc lifted its stake in shares of Edison International by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 68,553 shares of the utilities provider’s stock valued at $5,473,000 after purchasing an additional 2,866 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Edison International during the fourth quarter worth approximately $87,000. Baillie Gifford & Co. bought a new stake in Edison International in the fourth quarter worth approximately $1,509,000. Sierra Ocean LLC acquired a new position in Edison International in the fourth quarter valued at approximately $33,000. Finally, Csenge Advisory Group boosted its holdings in shares of Edison International by 47.3% during the 4th quarter. Csenge Advisory Group now owns 18,297 shares of the utilities provider’s stock worth $1,461,000 after buying an additional 5,874 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Up 2.2 %

EIX opened at $51.17 on Wednesday. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The firm has a market capitalization of $19.81 billion, a P/E ratio of 15.01, a PEG ratio of 1.03 and a beta of 0.90. The company’s 50-day moving average is $66.48 and its 200 day moving average is $78.30. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.47%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EIX shares. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the company from $69.00 to $65.00 in a research note on Tuesday. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley reduced their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. Finally, Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.11.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.