Zimmer Partners LP boosted its stake in shares of Edison International (NYSE:EIX) by 211.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,871,200 shares of the utilities provider’s stock after acquiring an additional 1,271,200 shares during the quarter. Edison International comprises 2.9% of Zimmer Partners LP’s investment portfolio, making the stock its 10th biggest holding. Zimmer Partners LP owned 0.57% of Edison International worth $118,335,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Cerebellum GP LLC acquired a new stake in shares of Edison International in the 4th quarter valued at approximately $116,000. Captrust Financial Advisors acquired a new stake in shares of Edison International in the 4th quarter valued at approximately $126,000. Amica Retiree Medical Trust acquired a new stake in shares of Edison International in the 3rd quarter valued at approximately $138,000. First Command Financial Services Inc. acquired a new stake in shares of Edison International in the 4th quarter valued at approximately $154,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Edison International by 1,842.3% in the 4th quarter. Advisory Services Network LLC now owns 2,661 shares of the utilities provider’s stock valued at $168,000 after buying an additional 2,524 shares during the period. 82.26% of the stock is owned by institutional investors.
Edison International (NYSE:EIX) opened at $63.13 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $19,613.83, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 2.45 and a beta of 0.20. Edison International has a 1 year low of $57.63 and a 1 year high of $83.38.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, March 28th. Edison International’s payout ratio is 140.70%.
Several equities analysts recently weighed in on EIX shares. Citigroup set a $87.00 price objective on Edison International and gave the company a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. ValuEngine raised Edison International from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, Edward Jones downgraded Edison International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Edison International currently has a consensus rating of “Hold” and a consensus price target of $76.93.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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