Wellington Shields & Co. LLC Purchases Shares of 12,700 Edison International $EIX

Wellington Shields & Co. LLC bought a new position in shares of Edison International (NYSE:EIX) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 12,700 shares of the utilities provider’s stock, valued at approximately $702,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EIX. Jones Financial Companies Lllp boosted its holdings in shares of Edison International by 112.9% in the first 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 during the period. Empowered Funds LLC boosted its holdings in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after buying an additional 211 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Edison International by 40.7% during the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock worth $1,927,000 after acquiring an additional 9,459 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Edison International by 153.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock worth $451,000 after buying an additional 5,290 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Edison International by 4.5% during the 2nd quarter. Truist Financial Corp now owns 35,252 shares of the utilities provider’s stock worth $1,819,000 after purchasing an additional 1,521 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of Edison International stock opened at $64.06 on Friday. The stock has a market cap of $24.65 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.93 and a beta of 0.82. Edison International has a 52 week low of $47.73 and a 52 week high of $64.68. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The company’s 50-day moving average price is $60.17 and its two-hundred day moving average price is $57.22.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date was Wednesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio is presently 45.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company downgraded Edison International from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $56.00 to $59.00 in a research report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Wall Street Zen raised shares of Edison International from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. Barclays lowered their price target on Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Finally, TD Cowen started coverage on Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Edison International has a consensus rating of “Hold” and an average target price of $63.30.

Edison International 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.