Kestra Private Wealth Services LLC Purchases 4,066 Shares of Edison International (NYSE:EIX)

Kestra Private Wealth Services LLC lifted its position in shares of Edison International (NYSE:EIX) by 50.7% during the 4th quarter, HoldingsChannel reports. The firm owned 12,093 shares of the utilities provider’s stock after acquiring an additional 4,066 shares during the period. Kestra Private Wealth Services LLC’s holdings in Edison International were worth $966,000 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 raised its stake in Edison International by 4.3% during the third 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 during the last quarter. Baker Tilly Wealth Management LLC raised its stake in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares during the last quarter. SFE Investment Counsel raised its stake in Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares during the last quarter. Assetmark Inc. raised its stake in Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after buying an additional 157 shares during the last quarter. Finally, Centennial Wealth Advisory LLC raised its stake in Edison International by 3.3% during the third quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock valued at $468,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EIX. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research note on Wednesday. Morgan Stanley decreased their price target 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. Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group decreased their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and an average target price of $82.11.

Edison International Stock Performance

Shares of EIX opened at $51.55 on Friday. The firm has a market capitalization of $19.96 billion, a P/E ratio of 15.12, a PEG 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. The business has a fifty day moving average of $68.48 and a 200 day moving average of $78.92. Edison International has a one year low of $49.06 and a one year high of $88.77.

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 paid a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. 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 6.42%. Edison International’s dividend payout ratio is 97.07%.

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.