Edison International (NYSE:EIX) Reaches New 12-Month High – What’s Next?

Edison International (NYSE:EIX)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $65.16 and last traded at $65.1420, with a volume of 588134 shares trading hands. The stock had previously closed at $63.79.

Analyst Ratings Changes

A number of research firms have recently issued reports on EIX. UBS Group reiterated a “buy” rating on shares of Edison International in a research note on Friday, January 16th. Zacks Research downgraded shares of Edison International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Morgan Stanley reissued an “underweight” rating on shares of Edison International in a research report on Wednesday, January 21st. LADENBURG THALM/SH SH lifted their price target on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company downgraded shares of Edison International from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $56.00 to $59.00 in a research report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Edison International presently has an average rating of “Hold” and a consensus price target of $63.30.

Edison International Price Performance

The company has a market capitalization of $25.31 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a fifty day moving average price of $60.28 and a 200 day moving average price of $57.37. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were paid a $0.8775 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a dividend yield of 5.3%. Edison International’s dividend payout ratio (DPR) is currently 45.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Edison International during the 4th quarter valued at $339,311,000. AQR Capital Management LLC grew its holdings in shares of Edison International by 83.5% in the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock worth $510,649,000 after acquiring an additional 4,534,864 shares during the last quarter. Vanguard Group Inc. raised its holdings in Edison International by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after buying an additional 2,386,562 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Edison International by 237.2% during the second quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock valued at $98,276,000 after acquiring an additional 1,339,806 shares during the period. Finally, SG Americas Securities LLC raised its position in Edison International by 2,970.8% during the fourth quarter. SG Americas Securities LLC now owns 1,297,280 shares of the utilities provider’s stock valued at $77,863,000 after buying an additional 1,255,034 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.