Bank of Stockton Sells 300 Shares of Edison International (NYSE:EIX)

Bank of Stockton reduced its position in Edison International (NYSE:EIX) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,449 shares of the utilities provider’s stock after selling 300 shares during the period. Bank of Stockton’s holdings in Edison International were worth $355,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Crews Bank & Trust bought a new position in Edison International during the 4th quarter valued at $25,000. Highline Wealth Partners LLC bought a new position in Edison International during the 3rd quarter valued at $26,000. Groupama Asset Managment lifted its stake in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares in the last quarter. Eastern Bank bought a new position in Edison International during the 3rd quarter valued at $27,000. Finally, Larson Financial Group LLC lifted its stake in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Trading Down 1.1 %

Shares of EIX opened at $51.86 on Friday. The business has a 50-day moving average of $64.67 and a 200 day moving average of $77.72. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The firm has a market cap of $20.08 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is presently 97.07%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Barclays dropped their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley decreased their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and an average price target of $80.11.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.