Richard Bernstein Advisors LLC Buys Shares of 56,453 Edison International (NYSE:EIX)

Richard Bernstein Advisors LLC acquired a new stake in Edison International (NYSE:EIX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 56,453 shares of the utilities provider’s stock, valued at approximately $4,507,000.

Several other institutional investors have also recently bought and sold shares of the business. AMF Tjanstepension AB grew its holdings in Edison International by 9.8% in the third quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock worth $23,662,000 after purchasing an additional 24,208 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at about $8,879,000. Dakota Wealth Management bought a new stake in Edison International in the 3rd quarter valued at about $279,000. Ballentine Partners LLC acquired a new position in Edison International during the 3rd quarter worth approximately $201,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Edison International by 30.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,559 shares of the utilities provider’s stock valued at $2,219,000 after acquiring an additional 5,955 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 0.3 %

Shares of NYSE EIX opened at $52.08 on Wednesday. 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 has a market cap of $20.16 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.07 and a beta of 0.90. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The business has a 50-day simple moving average of $62.92 and a two-hundred day simple moving average of $77.04.

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 given a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is 97.07%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating 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 objective for the company in a research note on Wednesday, January 15th. Morgan Stanley lowered their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Barclays dropped their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.