A number of other research firms also recently weighed in on EIX. ValuEngine upgraded Edison International from a hold rating to a buy rating in a research report on Wednesday, November 15th. SunTrust Banks restated a buy rating and set a $89.00 target price on shares of Edison International in a research report on Monday, October 30th. Mizuho downgraded Edison International from a buy rating to a neutral rating in a research report on Wednesday, December 6th. BMO Capital Markets restated a buy rating and set a $85.00 target price on shares of Edison International in a research report on Thursday, August 17th. Finally, Morgan Stanley boosted their target price on Edison International from $90.00 to $92.00 and gave the stock an equal weight rating in a research report on Friday, September 8th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Edison International currently has an average rating of Hold and a consensus price target of $84.54.
Edison International (EIX) traded down $4.40 during trading on Tuesday, reaching $68.58. The company’s stock had a trading volume of 10,717,400 shares, compared to its average volume of 1,863,588. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $23,777.70, a price-to-earnings ratio of 16.62, a P/E/G ratio of 2.65 and a beta of 0.23. Edison International has a one year low of $67.28 and a one year high of $83.38.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Edison International’s previous quarterly dividend of $0.54. Edison International’s dividend payout ratio is currently 48.98%.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at $1,157,922. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its holdings in shares of Edison International by 18.4% in the second quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock worth $43,167,000 after acquiring an additional 85,968 shares in the last quarter. Capital International Investors bought a new stake in shares of Edison International in the third quarter worth about $95,783,000. JPMorgan Chase & Co. increased its holdings in shares of Edison International by 3.6% in the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock worth $1,197,430,000 after acquiring an additional 526,261 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Edison International by 1.9% in the second quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock worth $51,236,000 after acquiring an additional 12,086 shares in the last quarter. Finally, GAM Holding AG increased its holdings in shares of Edison International by 8.0% in the second quarter. GAM Holding AG now owns 43,152 shares of the utilities provider’s stock worth $3,374,000 after acquiring an additional 3,198 shares in the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.
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About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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