Stanley Laman Group Ltd. Buys Shares of 2,747 Edison International (NYSE:EIX)

Stanley Laman Group Ltd. purchased a new position in shares of Edison International (NYSE:EIX) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,747 shares of the utilities provider’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. Consolidated Planning Corp increased its holdings in Edison International by 42.5% in the fourth quarter. Consolidated Planning Corp now owns 7,636 shares of the utilities provider’s stock valued at $610,000 after purchasing an additional 2,278 shares during the period. Van ECK Associates Corp lifted its holdings in Edison International by 47.1% during the 4th quarter. Van ECK Associates Corp now owns 161,355 shares of the utilities provider’s stock worth $12,883,000 after buying an additional 51,639 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Edison International by 542.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 138,474 shares of the utilities provider’s stock valued at $11,079,000 after buying an additional 116,935 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Edison International by 50.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 12,093 shares of the utilities provider’s stock valued at $966,000 after buying an additional 4,066 shares during the period. Finally, Miller Howard Investments Inc. NY raised its position in shares of Edison International by 565.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock worth $27,400,000 after acquiring an additional 291,619 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 2.2 %

Shares of NYSE:EIX opened at $51.55 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The business’s 50 day simple moving average is $68.48 and its two-hundred day simple moving average is $78.92. The firm has a market cap of $19.96 billion, a P/E ratio of 15.12, a PEG ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a $0.8275 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 6.42%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Wall Street Analyst Weigh In

Several analysts recently commented on EIX shares. Morgan Stanley reduced their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $82.11.

Edison International 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.