Allworth Financial LP Increases Stock Position in Edison International (NYSE:EIX)

Allworth Financial LP grew its stake in shares of Edison International (NYSE:EIX) by 40.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,555 shares of the utilities provider’s stock after acquiring an additional 5,322 shares during the quarter. Allworth Financial LP’s holdings in Edison International were worth $1,481,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Lake Street Advisors Group LLC lifted its stake in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel lifted its stake in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares during the last quarter. Assetmark Inc. grew its position in Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 157 shares during the last quarter. Finally, Centennial Wealth Advisory LLC increased its stake in Edison International by 3.3% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock worth $468,000 after buying an additional 172 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EIX shares. Barclays reduced their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $69.00 to $65.00 in a report on Tuesday. One equities 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.11.

Edison International Price Performance

EIX stock opened at $51.17 on Wednesday. The business has a 50 day moving average price of $66.48 and a 200 day moving average price of $78.30. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.05 and a beta of 0.90. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.47%. 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 (DPR) is 97.07%.

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.