Versor Investments LP Buys 18,381 Shares of Edison International $EIX

Versor Investments LP lifted its stake in Edison International (NYSE:EIX) by 55.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 51,830 shares of the utilities provider’s stock after acquiring an additional 18,381 shares during the period. Edison International comprises about 0.5% of Versor Investments LP’s holdings, making the stock its 19th biggest position. Versor Investments LP’s holdings in Edison International were worth $2,865,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EIX. Jones Financial Companies Lllp raised its holdings in Edison International by 112.9% in the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 5,190 shares in the last quarter. Empowered Funds LLC boosted its stake in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after buying an additional 211 shares in the last quarter. Woodline Partners LP increased its holdings in Edison International by 40.7% in the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after buying an additional 9,459 shares during the period. Sivia Capital Partners LLC increased its holdings in Edison International by 153.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after buying an additional 5,290 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of Edison International by 6.8% in the 2nd quarter. Vontobel Holding Ltd. now owns 4,889 shares of the utilities provider’s stock valued at $252,000 after buying an additional 310 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EIX has been the topic of several recent research reports. Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. TD Cowen began coverage on Edison International in a research note on Thursday, October 16th. They issued a “buy” rating and a $71.00 price target on the stock. Zacks Research cut Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, LADENBURG THALM/SH SH boosted their target price 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. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus target price of $63.30.

Edison International Trading Down 0.3%

Shares of EIX opened at $63.79 on Tuesday. 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 cap of $24.55 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 0.94 and a beta of 0.82. The stock has a fifty day moving average price of $60.28 and a two-hundred day moving average price of $57.37. Edison International has a 52-week low of $47.73 and a 52-week high of $64.68.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were given a dividend of $0.8775 per share. 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 positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio is presently 45.88%.

About Edison International

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.