Edison International $EIX Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its position in shares of Edison International (NYSE:EIX) by 30.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,294 shares of the utilities provider’s stock after purchasing an additional 10,141 shares during the period. Wealthfront Advisers LLC’s holdings in Edison International were worth $2,393,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Johnson Investment Counsel Inc. purchased a new stake in shares of Edison International in the 3rd quarter valued at approximately $210,000. Profund Advisors LLC lifted its holdings in Edison International by 4.0% in the third quarter. Profund Advisors LLC now owns 20,117 shares of the utilities provider’s stock valued at $1,112,000 after acquiring an additional 773 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Edison International by 65.1% in the third quarter. Oppenheimer & Co. Inc. now owns 8,535 shares of the utilities provider’s stock worth $472,000 after acquiring an additional 3,364 shares during the period. Slagle Financial LLC increased its stake in Edison International by 4.8% during the third quarter. Slagle Financial LLC now owns 49,417 shares of the utilities provider’s stock worth $2,732,000 after acquiring an additional 2,257 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Edison International by 69.0% during the third quarter. Smartleaf Asset Management LLC now owns 3,855 shares of the utilities provider’s stock worth $213,000 after acquiring an additional 1,574 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EIX. Morgan Stanley reiterated an “underweight” rating on shares of Edison International in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Edison International from a “buy” rating to a “hold” rating in a research note on Saturday. LADENBURG THALM/SH SH lifted their price target on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Jefferies Financial Group decreased their price objective on shares of Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.10.

Edison International Trading Up 3.4%

NYSE EIX opened at $71.43 on Friday. The firm has a 50 day simple moving average of $61.15 and a 200-day simple moving average of $57.78. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. Edison International has a one year low of $47.73 and a one year high of $71.61. The firm has a market cap of $27.49 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.05 and a beta of 0.82.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were given a $0.8775 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend 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.