Edison International (NYSE:EIX) Hits New 1-Year Low - Time to Sell?

Edison International (NYSE:EIX - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $51.58 and last traded at $51.68, with a volume of 4421180 shares traded. The stock had previously closed at $52.44.

Analysts Set New Price Targets

Several brokerages recently commented on EIX. Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Morgan Stanley reduced their price target on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. Barclays dropped their price objective on Edison International from $76.00 to $67.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They issued a "buy" rating and a $93.00 price target on the stock. Finally, UBS Group decreased their price objective on shares of Edison International from $87.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.88.

Edison International Stock Performance

The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market cap of $20.29 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. The business has a 50 day moving average price of $72.73 and a two-hundred day moving average price of $80.00.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date was Tuesday, January 7th. This is a positive change from Edison International's previous quarterly dividend of $0.78. Edison International's dividend payout ratio (DPR) is 97.07%.

Hedge Funds Weigh In On Edison International

Several hedge funds and other institutional investors have recently modified their holdings of EIX. SRS Capital Advisors Inc. increased its holdings in Edison International by 27.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,115 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 243 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Edison International by 76.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,330 shares of the utilities provider's stock valued at $186,000 after buying an additional 1,006 shares during the period. Metis Global Partners LLC raised its holdings in shares of Edison International by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 91,506 shares of the utilities provider's stock valued at $7,306,000 after acquiring an additional 3,498 shares in the last quarter. Flputnam Investment Management Co. lifted its stake in Edison International by 22.9% in the fourth quarter. Flputnam Investment Management Co. now owns 112,149 shares of the utilities provider's stock worth $8,954,000 after acquiring an additional 20,866 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in Edison International by 18.5% in the fourth quarter. QRG Capital Management Inc. now owns 21,559 shares of the utilities provider's stock worth $1,721,000 after acquiring an additional 3,363 shares during the period. 88.95% of the stock is owned by institutional investors.

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.