Edison International $EIX Stock Holdings Raised by Alps Advisors Inc.

Alps Advisors Inc. raised its stake in Edison International (NYSE:EIX) by 170.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,663 shares of the utilities provider’s stock after acquiring an additional 14,927 shares during the period. Alps Advisors Inc.’s holdings in Edison International were worth $1,308,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EIX. Canada Post Corp Registered Pension Plan increased its position in shares of Edison International by 598.9% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 26,152 shares of the utilities provider’s stock valued at $1,444,000 after purchasing an additional 22,410 shares during the period. Wellington Shields & Co. LLC bought a new position in shares of Edison International in the third quarter worth about $702,000. Waterloo Capital L.P. grew its position in Edison International by 24.9% during the third quarter. Waterloo Capital L.P. now owns 5,597 shares of the utilities provider’s stock worth $309,000 after buying an additional 1,117 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Edison International by 13.4% during the third quarter. HighPoint Advisor Group LLC now owns 7,306 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 866 shares during the period. Finally, Bessemer Group Inc. grew its position in Edison International by 17.8% in the third quarter. Bessemer Group Inc. now owns 14,149 shares of the utilities provider’s stock valued at $781,000 after acquiring an additional 2,138 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. Zacks Research lowered shares of Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. UBS Group reiterated a “buy” rating on shares of Edison International in a research report on Friday, January 16th. Wall Street Zen upgraded Edison International from a “hold” rating to a “buy” rating in a research report on Thursday, January 15th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Edison International in a report on Wednesday, January 21st. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.30.

Edison International Stock Performance

Shares of EIX stock opened at $67.19 on Thursday. Edison International has a 12 month low of $47.73 and a 12 month high of $67.21. The company’s fifty day simple moving average is $60.65 and its 200-day simple moving average is $57.53. The firm has a market cap of $25.85 billion, a PE ratio of 8.78, a P/E/G ratio of 0.96 and a beta of 0.82. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. The ex-dividend date was Wednesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a yield of 5.2%. Edison International’s dividend payout ratio is currently 45.88%.

Edison International Company 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.