Edison International (NYSE:EIX) Shares Purchased by RBA Wealth Management LLC

RBA Wealth Management LLC increased its position in shares of Edison International (NYSE:EIX) by 6.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 42,759 shares of the utilities provider’s stock after acquiring an additional 2,745 shares during the quarter. RBA Wealth Management LLC’s holdings in Edison International were worth $3,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in Edison International during the fourth quarter worth about $25,000. Highline Wealth Partners LLC purchased a new position in Edison International during the third quarter worth about $26,000. Groupama Asset Managment boosted its stake in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the period. Eastern Bank purchased a new position in Edison International during the third quarter worth about $27,000. Finally, Larson Financial Group LLC boosted its stake in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Down 2.9 %

NYSE EIX opened at $52.44 on Tuesday. The stock has a market cap of $20.30 billion, a PE ratio of 15.38, a P/E/G ratio of 1.11 and a beta of 0.90. Edison International has a fifty-two week low of $51.64 and a fifty-two week high of $88.77. The business has a 50 day moving average price of $74.15 and a two-hundred day moving average price of $80.32. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.31%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Analysts Set New Price Targets

Several research analysts have weighed in on EIX shares. Wells Fargo & Company increased their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. Barclays cut their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley cut their price objective 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, Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

About Edison International

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.