Edison International (NYSE:EIX) Reaches New 52-Week Low – Should You Sell?

Edison International (NYSE:EIX)’s stock 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 trading hands. The stock had previously closed at $52.44.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley decreased 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. LADENBURG THALM/SH SH upgraded 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. UBS Group cut their target price 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. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Finally, Barclays cut their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International Stock Down 1.4 %

The company has a market capitalization of $20.01 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. The company has a 50-day moving average of $73.45 and a two-hundred day moving average of $80.16. 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 firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were given a $0.8275 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.40%. Edison International’s dividend payout ratio is currently 97.07%.

Institutional Investors Weigh In On Edison International

Hedge funds have recently bought and sold shares of the business. Richard Bernstein Advisors LLC bought a new position in shares of Edison International during the fourth quarter valued at approximately $4,507,000. Lake Street Advisors Group LLC grew its stake in shares of Edison International by 15.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 3,477 shares of the utilities provider’s stock worth $278,000 after buying an additional 462 shares during the last quarter. Bank of New York Mellon Corp increased its position in Edison International by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock valued at $209,191,000 after buying an additional 32,391 shares in the last quarter. Impax Asset Management Group plc raised its stake 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 buying an additional 38,220 shares during the last quarter. Finally, RWC Asset Management LLP boosted its holdings in Edison International by 207.1% in 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. Institutional investors own 88.95% of the company’s stock.

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.