RBA Wealth Management LLC Grows Position in Edison International (NYSE:EIX)

RBA Wealth Management LLC increased its position in shares of Edison International (NYSE:EIX) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,759 shares of the utilities provider’s stock after purchasing an additional 2,745 shares during the period. RBA Wealth Management LLC’s holdings in Edison International were worth $3,414,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EIX. Northwestern Mutual Wealth Management Co. boosted its position in Edison International by 8.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock valued at $727,000 after buying an additional 816 shares during the period. Cetera Investment Advisers boosted its position in Edison International by 0.5% in the 2nd quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock valued at $7,565,000 after buying an additional 540 shares during the period. Sanctuary Advisors LLC purchased a new stake in Edison International in the 2nd quarter valued at about $2,003,000. AMF Tjanstepension AB boosted its position in Edison International by 9.8% in the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock valued at $23,662,000 after buying an additional 24,208 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in Edison International in the 3rd quarter valued at about $236,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent research reports. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. Wells Fargo & Company boosted 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. Barclays reduced their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Finally, UBS Group reduced 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.88.

Edison International Stock Down 2.9 %

EIX stock opened at $52.44 on Tuesday. The firm’s fifty day simple moving average is $74.15 and its 200-day simple moving average is $80.32. The company has a market capitalization of $20.30 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 12 month low of $51.64 and a 12 month high of $88.77.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were issued a $0.8275 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.31%. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio is 97.07%.

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.