Edison International $EIX Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in Edison International (NYSE:EIX) by 38.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 111,281 shares of the utilities provider’s stock after purchasing an additional 31,058 shares during the period. Advisors Asset Management Inc.’s holdings in Edison International were worth $6,152,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in EIX. Activest Wealth Management grew its stake in shares of Edison International by 677.8% in the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after buying an additional 488 shares in the last quarter. CVA Family Office LLC boosted its holdings in Edison International by 113.7% during the 3rd 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 during the period. Laurel Wealth Advisors LLC grew its position in Edison International by 5,064.3% in the 2nd 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 in the last quarter. Quent Capital LLC purchased a new stake in Edison International during the third quarter worth about $40,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Edison International during the second quarter worth about $38,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EIX shares. Barclays dropped their price objective on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Wells Fargo & Company downgraded shares of Edison International from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $56.00 to $59.00 in a research note on Tuesday, January 20th. Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Jefferies Financial Group decreased their target price on Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their target price on Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.30.

Edison International Price Performance

EIX stock opened at $69.16 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $26.61 billion, a P/E ratio of 9.04, a PEG ratio of 0.98 and a beta of 0.82. The business has a 50 day simple moving average of $60.88 and a 200-day simple moving average of $57.61. Edison International has a twelve month low of $47.73 and a twelve month high of $69.63.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were issued a $0.8775 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. Edison International’s dividend payout ratio is currently 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.