First National Trust Co Takes $1.01 Million Position in Edison International $EIX

First National Trust Co bought a new position in shares of Edison International (NYSE:EIX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,342 shares of the utilities provider’s stock, valued at approximately $1,014,000.

Several other hedge funds have also modified their holdings of EIX. MAI Capital Management grew its stake in shares of Edison International by 20.8% during the 2nd quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 202 shares during the period. Empowered Funds LLC lifted its stake in shares of Edison International by 2.4% in the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 211 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Edison International by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock worth $3,818,000 after buying an additional 213 shares in the last quarter. GHP Investment Advisors Inc. grew its position in Edison International by 21.7% during the second quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock worth $63,000 after buying an additional 217 shares during the period. Finally, Generali Asset Management SPA SGR raised its stake in shares of Edison International by 0.7% during the 3rd quarter. Generali Asset Management SPA SGR now owns 31,539 shares of the utilities provider’s stock worth $1,743,000 after buying an additional 234 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EIX has been the topic of a number of analyst reports. Jefferies Financial Group lowered their target price on Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Wells Fargo & Company cut shares of Edison International from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $56.00 to $59.00 in a research report on Tuesday, January 20th. Morgan Stanley reissued an “underweight” rating on shares of Edison International in a research note on Wednesday, January 21st. Wall Street Zen upgraded Edison International from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Edison International has a consensus rating of “Hold” and a consensus price target of $63.30.

Edison International Price Performance

EIX opened at $65.48 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The company’s 50-day moving average price is $60.45 and its 200 day moving average price is $57.46. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $65.82. The firm has a market cap of $25.20 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 0.93 and a beta of 0.82.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were given a dividend of $0.8775 per share. The ex-dividend date was Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.4%. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s payout ratio is presently 45.88%.

Edison International Profile

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.