Raymond James & Associates grew its stake in Edison International (NYSE:EIX) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,819 shares of the utilities provider’s stock after purchasing an additional 7,916 shares during the period. Raymond James & Associates’ holdings in Edison International were worth $10,763,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Enlightenment Research LLC purchased a new position in shares of Edison International during the 4th quarter valued at approximately $28,000. Essex Investment Management Co. LLC purchased a new position in shares of Edison International during the 4th quarter valued at approximately $28,000. Liberty Wealth Management LLC purchased a new position in shares of Edison International during the 4th quarter valued at approximately $29,000. Rehmann Capital Advisory Group lifted its position in shares of Edison International by 57.2% during the 4th quarter. Rehmann Capital Advisory Group now owns 547 shares of the utilities provider’s stock valued at $31,000 after buying an additional 199 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Edison International during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.56% of the company’s stock.
Shares of EIX stock opened at $60.89 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 0.74. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 2.51 and a beta of -0.05. Edison International has a fifty-two week low of $45.50 and a fifty-two week high of $71.00.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.6125 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.45 dividend on an annualized basis and a yield of 4.02%. Edison International’s payout ratio is currently 59.04%.
A number of research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Edison International from $83.00 to $84.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Barclays decreased their target price on Edison International from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 14th. Wolfe Research upgraded Edison International from a “peer perform” rating to an “outperform” rating in a research report on Monday, May 6th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Wells Fargo & Co increased their target price on Edison International from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $70.59.
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About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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