Canada Post Corp Registered Pension Plan Purchases 22,410 Shares of Edison International $EIX

Canada Post Corp Registered Pension Plan raised its holdings in shares of Edison International (NYSE:EIX) by 598.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 26,152 shares of the utilities provider’s stock after acquiring an additional 22,410 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Edison International were worth $1,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Activest Wealth Management raised its position in shares of Edison International by 677.8% in the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 488 shares during the period. CVA Family Office LLC grew its stake in Edison International by 113.7% in the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after buying an additional 307 shares in the last quarter. Laurel Wealth Advisors LLC raised its holdings in Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 709 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of Edison International during the second quarter worth $38,000. Finally, Quent Capital LLC bought a new position in shares of Edison International in the third quarter worth $40,000. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Barclays decreased their price target on Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. UBS Group reaffirmed a “buy” rating on shares of Edison International in a report on Friday, January 16th. Finally, Zacks Research cut shares of Edison International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Edison International currently has a consensus rating of “Hold” and an average target price of $63.30.

Edison International Stock Up 0.5%

EIX stock opened at $64.06 on Friday. The company’s 50 day moving average is $60.17 and its 200 day moving average is $57.25. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. Edison International has a 1-year low of $47.73 and a 1-year high of $64.68.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were issued a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s payout ratio is currently 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.