LSV Asset Management Buys 8,100 Shares of Edison International $EIX

LSV Asset Management increased its stake in shares of Edison International (NYSE:EIX) by 88.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,300 shares of the utilities provider’s stock after purchasing an additional 8,100 shares during the quarter. LSV Asset Management’s holdings in Edison International were worth $956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EIX. Caprock Group LLC acquired a new position in Edison International during the 3rd quarter worth $342,000. ING Groep NV raised its position in shares of Edison International by 84.5% during the third quarter. ING Groep NV now owns 333,097 shares of the utilities provider’s stock worth $18,414,000 after acquiring an additional 152,522 shares during the last quarter. Krilogy Financial LLC lifted its stake in shares of Edison International by 141.8% during the third quarter. Krilogy Financial LLC now owns 30,035 shares of the utilities provider’s stock valued at $1,705,000 after acquiring an additional 17,616 shares during the period. Advisors Asset Management Inc. boosted its holdings in Edison International by 38.7% in the third quarter. Advisors Asset Management Inc. now owns 111,281 shares of the utilities provider’s stock valued at $6,152,000 after acquiring an additional 31,058 shares during the last quarter. Finally, Versor Investments LP increased its position in Edison International by 55.0% in the third quarter. Versor Investments LP now owns 51,830 shares of the utilities provider’s stock worth $2,865,000 after purchasing an additional 18,381 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EIX shares. Wall Street Zen downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays dropped their price target on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. LADENBURG THALM/SH SH raised their price objective on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their price target on Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.10.

Edison International Stock Up 3.4%

Shares of NYSE:EIX opened at $71.43 on Tuesday. The company has a 50 day moving average price of $61.45 and a two-hundred day moving average price of $57.96. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The company has a market capitalization of $27.49 billion, a PE ratio of 9.34, a PEG ratio of 1.05 and a beta of 0.82. Edison International has a 52 week low of $47.73 and a 52 week high of $71.61.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, January 7th. 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.