Edison International (NYSE:EIX) Sets New 52-Week Low – Here’s What Happened

Edison International (NYSE:EIX)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $49.06 and last traded at $50.10, with a volume of 6735254 shares changing hands. The stock had previously closed at $50.09.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Morgan Stanley cut their price objective 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 target price for the company in a research report on Wednesday, January 15th. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Finally, Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average target price of $82.88.

Edison International Trading Up 0.0 %

The firm’s 50-day simple moving average is $70.50 and its 200 day simple moving average is $79.48. The stock has a market cap of $19.40 billion, a P/E ratio of 14.69, a PEG ratio of 1.05 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a $0.8275 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.61%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Lake Street Advisors Group LLC increased its stake in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in shares of Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after buying an additional 129 shares during the last quarter. SFE Investment Counsel increased its holdings in shares of Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 130 shares during the last quarter. Assetmark Inc. raised its stake in shares of Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 157 shares in the last quarter. Finally, Centennial Wealth Advisory LLC boosted its position 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 worth $468,000 after purchasing an additional 172 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

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.