Edison International (NYSE:EIX) Sets New 1-Year High – Should You Buy?

Edison International (NYSE:EIX) shares reached a new 52-week high on Tuesday . The stock traded as high as $72.68 and last traded at $71.5240, with a volume of 169216 shares traded. The stock had previously closed at $71.46.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EIX shares. Morgan Stanley reissued an “underweight” rating on shares of Edison International in a report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price objective on Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $56.00 to $59.00 in a research note on Tuesday, January 20th. LADENBURG THALM/SH SH lifted their price target on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, Jefferies Financial Group reduced their price target on shares of Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.10.

Edison International Stock Performance

The firm has a market cap of $27.72 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 1.05 and a beta of 0.82. The stock has a 50-day moving average of $61.45 and a 200-day moving average of $57.96. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were given a $0.8775 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, January 7th. Edison International’s payout ratio is presently 45.88%.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in shares of Edison International by 112.9% in the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 5,190 shares in the last quarter. Empowered Funds LLC boosted its position in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 211 shares during the last quarter. Woodline Partners LP grew its stake in Edison International by 40.7% in the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after purchasing an additional 9,459 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Edison International by 153.6% in the second quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 5,290 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Edison International by 27.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,829 shares of the utilities provider’s stock worth $610,000 after purchasing an additional 2,582 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.