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

Edison International (NYSE:EIX)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $49.06 and last traded at $50.10, with a volume of 6735254 shares changing hands. The stock had previously closed at $50.09.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EIX. Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. 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 note on Wednesday, January 15th. UBS Group decreased their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Edison International Stock Performance

The stock has a market cap of $19.40 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.05 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a fifty day simple moving average of $70.50 and a 200-day simple moving average of $79.48.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

Hedge Funds Weigh In On Edison International

Large investors have recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Edison International during the 4th quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the 3rd quarter worth approximately $26,000. Groupama Asset Managment boosted its holdings in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the last quarter. Eastern Bank bought a new position in shares of Edison International in the third quarter valued at $27,000. Finally, Larson Financial Group LLC increased its holdings in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

About Edison International

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.