Edison International (NYSE:EIX – Get Free Report) has been assigned a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $72.91.
Several brokerages have commented on EIX. Barclays cut their target price on Edison International from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. Morgan Stanley raised their price target on Edison International from $52.00 to $53.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 21st. JPMorgan Chase & Co. dropped their price target on Edison International from $79.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Finally, Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd.
Edison International Stock Performance
Edison International Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.79%. This is a boost from Edison International’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Thursday, December 28th. Edison International’s dividend payout ratio is currently 97.20%.
Institutional Trading of Edison International
Hedge funds have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its position in shares of Edison International by 3.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,560 shares of the utilities provider’s stock valued at $1,845,000 after buying an additional 890 shares in the last quarter. Peterson Financial Group Inc. raised its position in Edison International by 1.8% in the 2nd quarter. Peterson Financial Group Inc. now owns 13,605 shares of the utilities provider’s stock worth $945,000 after purchasing an additional 246 shares during the period. Metis Global Partners LLC raised its position in Edison International by 1.5% in the 3rd quarter. Metis Global Partners LLC now owns 56,588 shares of the utilities provider’s stock worth $3,581,000 after purchasing an additional 834 shares during the period. Impax Asset Management Group plc raised its position in Edison International by 0.8% in the 2nd quarter. Impax Asset Management Group plc now owns 254,908 shares of the utilities provider’s stock worth $17,703,000 after purchasing an additional 2,097 shares during the period. Finally, Equitable Trust Co. raised its position in Edison International by 11.4% in the 3rd quarter. Equitable Trust Co. now owns 14,845 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 1,518 shares during the period. 88.17% of the stock is currently owned by hedge funds and other institutional investors.
About Edison International
Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.
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