Edison International (NYSE:EIX) Shares Acquired by WESPAC Advisors LLC

WESPAC Advisors LLC lifted its stake in shares of Edison International (NYSE:EIX) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,335 shares of the utilities provider’s stock after purchasing an additional 565 shares during the quarter. WESPAC Advisors LLC’s holdings in Edison International were worth $745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB raised its position in shares of Edison International by 3.3% during the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after purchasing an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Edison International during the 4th quarter worth approximately $235,000. KBC Group NV raised its position in shares of Edison International by 23.7% during the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after purchasing an additional 11,764 shares during the period. abrdn plc raised its position in shares of Edison International by 19.5% during the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after purchasing an additional 276,656 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Edison International during the 3rd quarter worth approximately $1,387,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on EIX shares. Morgan Stanley lowered their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. 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. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. Finally, Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Stock Performance

Shares of NYSE EIX opened at $52.10 on Friday. The stock has a fifty day moving average price of $64.07 and a two-hundred day moving average price of $77.49. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market cap of $20.17 billion, a P/E ratio of 15.28, a PEG ratio of 1.07 and a beta of 0.90. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. The ex-dividend date was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.35%. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Edison International Company 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.