Asset Planning Inc Makes New Investment in Edison International (NYSE:EIX)

Asset Planning Inc purchased a new position in shares of Edison International (NYSE:EIX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,519 shares of the utilities provider's stock, valued at approximately $1,399,000. Edison International makes up 1.1% of Asset Planning Inc's portfolio, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AMF Tjanstepension AB raised its position in Edison International by 9.8% during the third quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider's stock worth $23,662,000 after acquiring an additional 24,208 shares in the last quarter. CWM LLC lifted its holdings in shares of Edison International by 5.4% during the third quarter. CWM LLC now owns 12,313 shares of the utilities provider's stock worth $1,072,000 after buying an additional 626 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Edison International by 597.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,858 shares of the utilities provider's stock valued at $336,000 after purchasing an additional 3,305 shares during the period. Creative Planning grew its position in Edison International by 6.4% during the third quarter. Creative Planning now owns 50,962 shares of the utilities provider's stock worth $4,438,000 after buying an additional 3,078 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Edison International in the third quarter worth $237,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

EIX traded up $1.11 on Tuesday, reaching $51.17. 5,189,587 shares of the stock were exchanged, compared to its average volume of 6,610,502. The firm has a market capitalization of $19.81 billion, a PE ratio of 15.01, a PEG ratio of 1.05 and a beta of 0.90. The company's 50-day moving average price is $66.48 and its 200 day moving average price is $78.30. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.47%. This is a boost from Edison International's previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International's payout ratio is presently 97.07%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays decreased their target price on Edison International from $76.00 to $67.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. LADENBURG THALM/SH SH raised Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Finally, UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and dropped their price target for the company from $69.00 to $65.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.11.

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.