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

Edison International (NYSE:EIX) reached 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 changing hands. The stock had previously closed at $50.09.

Analysts Set New Price Targets

A number of brokerages have weighed in on EIX. UBS Group decreased their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research report on Wednesday, January 15th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $82.11.

Edison International Trading Up 3.8 %

The firm has a fifty day moving average of $69.11 and a 200-day moving average of $79.10. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 1.05 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 disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.28%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio is 97.07%.

Hedge Funds Weigh In On Edison International

Large investors have recently bought and sold shares of the business. Crews Bank & Trust bought a new position in Edison International in the 4th quarter worth about $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Edison International in the 3rd quarter worth approximately $26,000. Groupama Asset Managment boosted its holdings in shares of 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 acquiring an additional 237 shares in the last quarter. Eastern Bank acquired a new position in shares of Edison International during the third quarter valued at approximately $27,000. Finally, Larson Financial Group LLC raised its holdings in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. Institutional investors 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.