Wellington Shields & Co. LLC Buys New Stake in Edison International $EIX

Wellington Shields & Co. LLC bought a new position in Edison International (NYSE:EIX) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 12,700 shares of the utilities provider’s stock, valued at approximately $702,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Edison International by 112.9% in the first quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock worth $577,000 after purchasing an additional 5,190 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 211 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Edison International by 40.7% in the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after purchasing an additional 9,459 shares during the period. Sivia Capital Partners LLC grew its stake in Edison International by 153.6% in the second quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 5,290 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Edison International by 4.5% in the second quarter. Truist Financial Corp now owns 35,252 shares of the utilities provider’s stock worth $1,819,000 after purchasing an additional 1,521 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EIX has been the topic of several recent research reports. Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. Jefferies Financial Group decreased their price target on Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. LADENBURG THALM/SH SH raised their target price on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. UBS Group reaffirmed a “buy” rating on shares of Edison International in a report on Friday, January 16th. Finally, TD Cowen started coverage on Edison International in a research note on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.30.

Edison International Trading Up 0.5%

Shares of Edison International stock opened at $64.06 on Friday. The stock has a 50 day moving average of $60.17 and a 200 day moving average of $57.22. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 0.93 and a beta of 0.82. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $64.68.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were paid a $0.8775 dividend. The ex-dividend date was Wednesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. Edison International’s payout ratio is 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.