Csenge Advisory Group Acquires 5,874 Shares of Edison International (NYSE:EIX)

Csenge Advisory Group grew its position in Edison International (NYSE:EIX - Free Report) by 47.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,297 shares of the utilities provider's stock after buying an additional 5,874 shares during the period. Csenge Advisory Group's holdings in Edison International were worth $1,461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EIX. FMR LLC increased its stake in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the period. abrdn plc increased its stake in shares of Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider's stock valued at $123,149,000 after buying an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider's stock valued at $68,081,000 after buying an additional 422,752 shares during the period. AustralianSuper Pty Ltd acquired a new stake in shares of Edison International in the 4th quarter valued at $31,877,000. Finally, Miller Howard Investments Inc. NY boosted its position in shares of Edison International by 565.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider's stock worth $27,400,000 after purchasing an additional 291,619 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

NYSE EIX traded down $0.56 during trading on Thursday, reaching $51.86. 3,676,295 shares of the company's stock were exchanged, compared to its average volume of 6,451,110. The business has a 50 day moving average price of $65.26 and a 200-day moving average price of $77.90. The stock has a market capitalization of $20.08 billion, a P/E ratio of 15.21, a PEG ratio of 1.05 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 fifty-two week low of $49.06 and a fifty-two week high of $88.77.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend was Tuesday, January 7th. This is a boost from Edison International's previous quarterly dividend of $0.78. Edison International's payout ratio is currently 97.07%.

Analysts Set New Price Targets

EIX has been the topic of several recent research reports. Barclays reduced their price target 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 upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target on the stock in a research report on Wednesday, January 15th. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They set a "buy" rating and a $93.00 target price on the stock. Morgan Stanley reduced their target price on Edison International from $71.00 to $48.00 and set an "underweight" rating on the stock in a report on Friday, February 14th. Finally, UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.