Edison International (NYSE:EIX) Hits New 12-Month Low – Here’s What Happened

Edison International (NYSE:EIX) hit a new 52-week low on Tuesday . The stock traded as low as $49.06 and last traded at $50.10, with a volume of 6735254 shares trading hands. The stock had previously closed at $50.09.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Barclays decreased their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. UBS Group reduced their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $82.11.

Edison International Stock Up 3.8 %

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 capitalization of $20.41 billion, a P/E ratio of 15.46, a PEG ratio of 1.05 and a beta of 0.90. The business’s fifty day moving average price is $69.11 and its two-hundred day moving average price is $79.10.

Edison International Increases Dividend

The firm also recently declared 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. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.28%. Edison International’s payout ratio is presently 97.07%.

Institutional Trading of Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in shares of Edison International in the fourth quarter worth $25,000. Highline Wealth Partners LLC purchased a new stake in Edison International during the third quarter worth $26,000. Groupama Asset Managment increased its holdings in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares in the last quarter. Eastern Bank acquired a new position in shares of Edison International in the third quarter worth about $27,000. Finally, Larson Financial Group LLC increased its stake in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.