Edison International $EIX Stake Lifted by Carson Advisory Inc.

Carson Advisory Inc. grew its stake in shares of Edison International (NYSE:EIX) by 14.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,679 shares of the utilities provider’s stock after purchasing an additional 9,759 shares during the quarter. Edison International accounts for 2.3% of Carson Advisory Inc.’s investment portfolio, making the stock its 10th biggest position. Carson Advisory Inc.’s holdings in Edison International were worth $4,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of EIX. Activest Wealth Management grew its position in Edison International by 677.8% in the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 488 shares in the last quarter. CVA Family Office LLC grew its holdings in Edison International by 113.7% during the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 307 shares in the last quarter. Laurel Wealth Advisors LLC grew its holdings in Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 709 shares in the last quarter. Quent Capital LLC purchased a new stake in Edison International during the 3rd quarter worth $40,000. Finally, CoreFirst Bank & Trust acquired a new position in Edison International in the 2nd quarter worth $38,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EIX. Morgan Stanley restated an “underweight” rating on shares of Edison International in a research note on Wednesday, January 21st. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Barclays reduced their price objective on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Finally, LADENBURG THALM/SH SH upped their target price on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.10.

Edison International Stock Up 3.4%

Shares of NYSE:EIX opened at $71.43 on Friday. The company’s fifty day moving average is $61.15 and its two-hundred day moving average is $57.74. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. Edison International has a 1-year low of $47.73 and a 1-year high of $71.61. The stock has a market capitalization of $27.48 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 1.01 and a beta of 0.82.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were paid a $0.8775 dividend. The ex-dividend date was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. Edison International’s dividend payout ratio (DPR) is 45.88%.

Edison International 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.