Greenleaf Trust Acquires 744 Shares of Edison International (NYSE:EIX)

Greenleaf Trust raised its stake in shares of Edison International (NYSE:EIX) by 12.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,566 shares of the utilities provider’s stock after purchasing an additional 744 shares during the quarter. Greenleaf Trust’s holdings in Edison International were worth $524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EIX. Crews Bank & Trust bought a new position in shares of Edison International during the fourth quarter worth about $25,000. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter valued at $26,000. Groupama Asset Managment increased its stake in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. Eastern Bank acquired a new position in Edison International during the 3rd quarter worth approximately $27,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Down 1.4 %

Shares of NYSE EIX opened at $51.68 on Wednesday. The business’s fifty day moving average price is $73.45 and its 200-day moving average price is $80.16. Edison International has a one year low of $51.58 and a one year high of $88.77. The stock has a market capitalization of $20.01 billion, a PE ratio of 15.16, a P/E/G ratio of 1.11 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley lowered their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Barclays cut their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.88.

Edison International Company 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.