Edison International (NYSE:EIX) Sets New 52-Week High – What’s Next?

Edison International (NYSE:EIX)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $72.68 and last traded at $71.5240, with a volume of 169216 shares changing hands. The stock had previously closed at $71.46.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of Edison International in a research report on Wednesday, January 21st. Jefferies Financial Group reduced their price target on shares of Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Barclays decreased their price objective on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Zacks Research downgraded shares of Edison International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, UBS Group cut shares of Edison International from a “buy” rating to a “neutral” rating and increased their price target for the company from $70.00 to $78.00 in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.10.

Edison International Stock Performance

The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The company has a market cap of $27.72 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 1.05 and a beta of 0.82. The firm’s 50-day moving average price is $61.45 and its 200 day moving average price is $57.96.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio is presently 45.88%.

Institutional Investors Weigh In On Edison International

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in Edison International by 60.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,979,438 shares of the utilities provider’s stock valued at $119,025,000 after buying an additional 745,395 shares during the period. Maryland State Retirement & Pension System increased its stake in shares of Edison International by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 381,455 shares of the utilities provider’s stock valued at $22,895,000 after acquiring an additional 6,097 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Edison International by 69.5% in the 4th quarter. Captrust Financial Advisors now owns 110,473 shares of the utilities provider’s stock valued at $6,631,000 after acquiring an additional 45,282 shares during the period. ExodusPoint Capital Management LP boosted its stake in Edison International by 58.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 155,310 shares of the utilities provider’s stock worth $9,322,000 after acquiring an additional 57,058 shares during the last quarter. Finally, Blair William & Co. IL acquired a new position in Edison International during the fourth quarter valued at approximately $229,000. 88.95% of the stock is owned by institutional investors and hedge funds.

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.