Edison International $EIX Shares Bought by Wealthfront Advisers LLC

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

Several other institutional investors have also modified their holdings of EIX. Jones Financial Companies Lllp increased its holdings in Edison International by 112.9% in the first quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after buying an additional 5,190 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 211 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Edison International by 40.7% in the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after acquiring an additional 9,459 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Edison International by 153.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 5,290 shares during the last quarter. Finally, MGO One Seven LLC raised its position in shares of Edison International by 23.9% during the 2nd quarter. MGO One Seven LLC now owns 9,654 shares of the utilities provider’s stock worth $498,000 after acquiring an additional 1,862 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH upped their price target on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays cut their price target on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Finally, UBS Group downgraded shares of Edison International from a “buy” rating to a “neutral” rating and upped their price objective for the company from $70.00 to $78.00 in a research note on Friday. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.10.

Edison International Stock Up 3.4%

EIX stock opened at $71.43 on Friday. Edison International has a 12 month low of $47.73 and a 12 month high of $71.61. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The company has a market cap of $27.49 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 1.05 and a beta of 0.82. The company has a fifty day moving average price of $61.15 and a 200 day moving average price of $57.78.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. This is an increase 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 4.9%. The ex-dividend date of this dividend was Wednesday, January 7th. 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.