Bank of Stockton Trims Position in Edison International (NYSE:EIX)

Bank of Stockton lessened its stake in shares of Edison International (NYSE:EIX) by 6.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,449 shares of the utilities provider’s stock after selling 300 shares during the quarter. Bank of Stockton’s holdings in Edison International were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EIX. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the 3rd quarter valued at about $26,000. Eastern Bank bought a new stake in shares of Edison International during the 3rd quarter valued at about $27,000. Crews Bank & Trust bought a new stake in shares of Edison International during the 4th quarter valued at about $25,000. Larson Financial Group LLC boosted its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Edison International during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of research analyst reports. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the company from $69.00 to $65.00 in a research report on Tuesday. 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. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Finally, Guggenheim downgraded 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 assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Trading Down 1.1 %

Edison International stock opened at $51.86 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The business’s fifty day simple moving average is $64.67 and its two-hundred day simple moving average is $77.72. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a market capitalization of $20.08 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90.

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 issued a dividend of $0.8275 per share. 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 6.38%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio is presently 97.07%.

Edison International 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.