Consolidated Planning Corp Grows Position in Edison International (NYSE:EIX)

Consolidated Planning Corp increased its position in shares of Edison International (NYSE:EIX) by 42.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,636 shares of the utilities provider’s stock after buying an additional 2,278 shares during the quarter. Consolidated Planning Corp’s holdings in Edison International were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in Edison International during the 4th quarter worth approximately $25,000. Highline Wealth Partners LLC purchased a new position in Edison International during the 3rd quarter worth approximately $26,000. Groupama Asset Managment grew its stake in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Eastern Bank purchased a new position in Edison International during the 3rd quarter worth approximately $27,000. Finally, Larson Financial Group LLC grew its stake in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 3.8 %

EIX opened at $52.72 on Thursday. The stock has a market capitalization of $20.41 billion, a P/E 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 current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The business has a 50 day simple moving average of $69.11 and a 200-day simple moving average of $79.10.

Edison International Increases Dividend

The firm also recently disclosed 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 represents a $3.31 dividend on an annualized basis and a dividend yield of 6.28%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is currently 97.07%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Morgan Stanley decreased their price objective 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. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group decreased their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Edison International has a consensus rating of “Hold” and an average price target of $82.11.

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.