Edison International (NYSE:EIX) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN raised its stake in shares of Edison International (NYSE:EIX) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,732 shares of the utilities provider’s stock after acquiring an additional 348 shares during the period. OLD National Bancorp IN’s holdings in Edison International were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Edison International by 8.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock valued at $727,000 after purchasing an additional 816 shares during the period. Cetera Investment Advisers boosted its position in shares of Edison International by 0.5% during the 2nd quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock worth $7,565,000 after purchasing an additional 540 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Edison International during the 2nd quarter worth $2,003,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Edison International by 10.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,170 shares of the utilities provider’s stock valued at $189,000 after purchasing an additional 206 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its stake in shares of Edison International by 9.8% in the third quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock valued at $23,662,000 after purchasing an additional 24,208 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Trading Down 0.1 %

Shares of EIX opened at $53.98 on Monday. The stock’s fifty day simple moving average is $74.15 and its 200 day simple moving average is $80.29. Edison International has a twelve month low of $53.26 and a twelve month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $20.90 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.15 and a beta of 0.93.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.13%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International’s payout ratio is 97.07%.

Analysts Set New Price Targets

EIX has been the topic of several research analyst reports. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays cut their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. Morgan Stanley reduced their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group started coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.