First National Trust Co Makes New Investment in Edison International $EIX

First National Trust Co acquired a new position in Edison International (NYSE:EIX) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,342 shares of the utilities provider’s stock, valued at approximately $1,014,000.

Several other institutional investors and hedge funds have also made changes to their positions in EIX. Vanguard Group Inc. raised its stake in shares of Edison International by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after buying an additional 2,386,562 shares in the last quarter. Geode Capital Management LLC raised its position in Edison International by 3.5% in the second quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock worth $638,576,000 after acquiring an additional 407,039 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Edison International by 83.5% in the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after acquiring an additional 4,534,864 shares during the last quarter. Invesco Ltd. boosted its position in shares of Edison International by 10.8% during the 2nd quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock valued at $329,851,000 after purchasing an additional 621,924 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Edison International by 11.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock valued at $288,599,000 after purchasing an additional 562,991 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

Shares of EIX opened at $65.48 on Wednesday. The company has a market capitalization of $25.20 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 0.93 and a beta of 0.82. The company’s fifty day moving average price is $60.45 and its 200 day moving average price is $57.46. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. Edison International has a one year low of $47.73 and a one year high of $65.82.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.4%. The ex-dividend date was Wednesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio is currently 45.88%.

Analyst Ratings Changes

A number of brokerages have recently commented on EIX. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. Wells Fargo & Company cut shares of Edison International from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $56.00 to $59.00 in a report on Tuesday, January 20th. UBS Group restated a “buy” rating on shares of Edison International in a research report on Friday, January 16th. Finally, JPMorgan Chase & Co. lifted their price target on Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.