Edison International (NYSE:EIX) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Edison International (NYSE:EIX) from a buy rating to a hold rating in a research report report published on Saturday.

EIX has been the subject of several other research reports. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $56.00 to $59.00 in a report on Tuesday, January 20th. Barclays lowered their target price 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. Zacks Research lowered shares of Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Finally, Jefferies Financial Group lowered their price objective on shares of Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Four 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.10.

Edison International Price Performance

EIX stock opened at $71.43 on Friday. The stock has a market capitalization 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 quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. Edison International has a 52-week low of $47.73 and a 52-week high of $71.61. The stock’s fifty day simple moving average is $61.15 and its 200-day simple moving average is $57.78.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were given a $0.8775 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a dividend yield of 4.9%. Edison International’s dividend payout ratio (DPR) is currently 45.88%.

Institutional Trading of Edison International

A number of institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Edison International by 169.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,843 shares of the utilities provider’s stock worth $6,901,000 after purchasing an additional 78,531 shares in the last quarter. Versor Investments LP grew its position in Edison International by 55.0% in the third quarter. Versor Investments LP now owns 51,830 shares of the utilities provider’s stock worth $2,865,000 after buying an additional 18,381 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Edison International by 1.7% in the third quarter. Nordea Investment Management AB now owns 1,695,550 shares of the utilities provider’s stock valued at $92,984,000 after buying an additional 28,586 shares in the last quarter. Convergence Investment Partners LLC increased its holdings in shares of Edison International by 67.6% in the third quarter. Convergence Investment Partners LLC now owns 27,017 shares of the utilities provider’s stock valued at $1,494,000 after buying an additional 10,901 shares in the last quarter. Finally, Krilogy Financial LLC lifted its position in shares of Edison International by 141.8% during the 3rd quarter. Krilogy Financial LLC now owns 30,035 shares of the utilities provider’s stock valued at $1,705,000 after acquiring an additional 17,616 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Company Profile

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.