Empowered Funds LLC Increases Stake in Edison International (NYSE:EIX)

Empowered Funds LLC increased its stake in Edison International (NYSE:EIX) by 35.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,664 shares of the utilities provider’s stock after purchasing an additional 2,272 shares during the period. Empowered Funds LLC’s holdings in Edison International were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in shares of Edison International during the fourth quarter valued at $25,000. Highline Wealth Partners LLC acquired a new stake in Edison International during the 3rd quarter worth about $26,000. Groupama Asset Managment grew its stake in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. Eastern Bank acquired a new position in shares of Edison International in the third quarter valued at about $27,000. Finally, Larson Financial Group LLC raised its stake in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EIX. Morgan Stanley cut their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, February 14th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report 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 objective for the company. Finally, Barclays dropped their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.11.

Edison International Stock Up 2.2 %

Shares of NYSE EIX opened at $51.17 on Wednesday. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company’s 50-day simple moving average is $66.48 and its 200-day simple moving average is $78.30. The firm has a market cap of $19.81 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90.

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%.

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.