AlphaQuest LLC Has $321,000 Stake in Edison International $EIX

AlphaQuest LLC cut its stake in Edison International (NYSE:EIX) by 65.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,798 shares of the utilities provider’s stock after selling 11,077 shares during the period. AlphaQuest LLC’s holdings in Edison International were worth $321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Edison International by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock valued at $2,655,858,000 after purchasing an additional 2,386,562 shares during the last quarter. Geode Capital Management LLC raised its holdings in Edison International by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock valued at $638,576,000 after buying an additional 407,039 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Edison International by 83.5% during the second quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after acquiring an additional 4,534,864 shares during the last quarter. Invesco Ltd. raised its stake in shares of Edison International by 10.8% during the second quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock valued at $329,851,000 after acquiring an additional 621,924 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Edison International by 11.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock worth $288,599,000 after purchasing an additional 562,991 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $56.00 to $59.00 in a research note on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Finally, Jefferies Financial Group cut their price objective on Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Hold” and an average price target of $63.30.

Edison International Trading Up 0.5%

NYSE EIX opened at $64.06 on Monday. The business has a 50 day simple moving average of $60.17 and a 200 day simple moving average of $57.29. The stock has a market capitalization of $24.65 billion, a P/E ratio of 8.37, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. Edison International has a one year low of $47.73 and a one year high of $64.68.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were paid a $0.8775 dividend. The ex-dividend date was Wednesday, January 7th. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. This is a boost from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio (DPR) is 45.88%.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.