Edison International (NYSE:EIX) Reaches New 12-Month Low – Here’s Why

Shares of Edison International (NYSE:EIX) reached a new 52-week low on Wednesday . The stock traded as low as $51.58 and last traded at $51.68, with a volume of 4421180 shares. The stock had previously closed at $52.44.

Wall Street Analyst Weigh In

EIX has been the topic of several recent analyst reports. Barclays reduced 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 report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. 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. Finally, UBS Group decreased their target price on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. 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’s stock. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International Price Performance

The company has a market capitalization of $19.75 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s 50 day simple moving average is $72.01 and its 200 day simple moving average is $79.81.

Edison International Increases Dividend

The company also recently disclosed 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 positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio is 97.07%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Crews Bank & Trust purchased a new position in Edison International during the 4th quarter valued at $25,000. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the third quarter worth $26,000. Groupama Asset Managment boosted its stake in shares of Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Eastern Bank bought a new position in shares of Edison International in the third quarter worth about $27,000. Finally, Larson Financial Group LLC increased its stake in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.