Edison International (NYSE:EIX) Shares Purchased by Allworth Financial LP

Allworth Financial LP boosted its position in shares of Edison International (NYSE:EIX) by 40.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,555 shares of the utilities provider’s stock after buying an additional 5,322 shares during the period. Allworth Financial LP’s holdings in Edison International were worth $1,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. FMR LLC increased its holdings in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. abrdn plc increased its stake in Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Edison International by 117.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after buying an additional 422,752 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Edison International during the fourth quarter worth about $31,877,000. Finally, Miller Howard Investments Inc. NY grew its holdings in shares of Edison International by 565.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock worth $27,400,000 after buying an additional 291,619 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE:EIX opened at $51.17 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $19.81 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90. The firm has a 50-day moving average price of $66.48 and a two-hundred day moving average price of $78.30. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

Edison International Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EIX. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. Morgan Stanley cut their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Finally, Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Company 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.