Edison International (NYSE:EIX) Reaches New 12-Month Low – Here’s Why

Edison International (NYSE:EIX)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $51.58 and last traded at $51.68, with a volume of 4421180 shares changing hands. The stock had previously closed at $52.44.

Wall Street Analysts Forecast Growth

EIX has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays reduced their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley dropped their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Edison International Stock Performance

The company’s 50-day moving average is $73.45 and its two-hundred day moving average is $80.16. The company has a market capitalization of $20.01 billion, a P/E ratio of 15.16, a PEG ratio of 1.11 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

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 given a dividend of $0.8275 per share. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.40%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 97.07%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Richard Bernstein Advisors LLC bought a new stake in Edison International during the fourth quarter worth about $4,507,000. Lake Street Advisors Group LLC raised its holdings in shares of Edison International by 15.3% during the 4th quarter. Lake Street Advisors Group LLC now owns 3,477 shares of the utilities provider’s stock valued at $278,000 after buying an additional 462 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Edison International by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock worth $209,191,000 after buying an additional 32,391 shares in the last quarter. Impax Asset Management Group plc grew its position in Edison International by 38.0% during the fourth quarter. Impax Asset Management Group plc now owns 138,703 shares of the utilities provider’s stock valued at $11,074,000 after acquiring an additional 38,220 shares during the last quarter. Finally, RWC Asset Management LLP raised its stake in shares of Edison International by 207.1% during the fourth quarter. RWC Asset Management LLP now owns 398,812 shares of the utilities provider’s stock worth $31,841,000 after acquiring an additional 268,951 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

About Edison International

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.