Carson Advisory Inc. Acquires 9,759 Shares of Edison International $EIX

Carson Advisory Inc. lifted its stake in shares of Edison International (NYSE:EIX) by 14.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,679 shares of the utilities provider’s stock after purchasing an additional 9,759 shares during the quarter. Edison International comprises about 2.3% of Carson Advisory Inc.’s investment portfolio, making the stock its 10th largest holding. Carson Advisory Inc.’s holdings in Edison International were worth $4,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Activest Wealth Management increased its stake in Edison International by 677.8% during the 3rd quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after buying an additional 488 shares during the period. CVA Family Office LLC boosted its holdings in shares of Edison International by 113.7% in the third quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 307 shares in the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of Edison International by 5,064.3% during the second quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 709 shares during the period. Quent Capital LLC bought a new stake in Edison International during the third quarter worth approximately $40,000. Finally, CoreFirst Bank & Trust acquired a new stake in Edison International in the second quarter worth approximately $38,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EIX. JPMorgan Chase & Co. upped their price objective on Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Jefferies Financial Group cut their price target on shares of Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. UBS Group cut shares of Edison International from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $70.00 to $78.00 in a research note on Friday. Barclays cut their target price on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $56.00 to $59.00 in a research report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.10.

Edison International Stock Performance

Shares of EIX opened at $71.43 on Friday. The company has a 50-day moving average of $61.15 and a two-hundred day moving average of $57.74. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.01 and a beta of 0.82. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. Edison International has a one year low of $47.73 and a one year high of $71.61.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 4.9%. The ex-dividend date was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio is presently 45.88%.

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.