Edison International (NYSE:EIX) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN lifted its holdings in shares of Edison International (NYSE:EIX) by 14.6% during the fourth quarter, Holdings Channel reports. The fund owned 2,732 shares of the utilities provider’s stock after purchasing an additional 348 shares during the quarter. OLD National Bancorp IN’s holdings in Edison International were worth $218,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Edison International by 8.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock valued at $727,000 after purchasing an additional 816 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Edison International by 0.5% in the second quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock worth $7,565,000 after buying an additional 540 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Edison International in the second quarter valued at $2,003,000. Massmutual Trust Co. FSB ADV boosted its stake in Edison International by 10.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,170 shares of the utilities provider’s stock valued at $189,000 after acquiring an additional 206 shares during the last quarter. Finally, AMF Tjanstepension AB grew its stake in Edison International by 9.8% in the third quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock worth $23,662,000 after purchasing an additional 24,208 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research reports. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Barclays dropped their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. UBS Group lowered their target price on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Edison International Trading Down 0.1 %

NYSE EIX opened at $53.98 on Monday. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.15 and a beta of 0.93. The firm’s 50 day moving average price is $74.15 and its two-hundred day moving average price is $80.29. 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 twelve month low of $53.26 and a twelve month high of $88.77.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.13%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 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.