LSV Asset Management Has $956,000 Stake in Edison International $EIX

LSV Asset Management grew its stake in shares of Edison International (NYSE:EIX) by 88.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 17,300 shares of the utilities provider’s stock after buying an additional 8,100 shares during the period. LSV Asset Management’s holdings in Edison International were worth $956,000 as of its most recent filing with the SEC.

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

Edison International Stock Performance

NYSE EIX opened at $71.43 on Tuesday. Edison International has a 1-year low of $47.73 and a 1-year high of $71.61. The company has a 50 day moving average of $61.45 and a 200-day moving average of $57.96. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The firm has a market cap of $27.49 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.05 and a beta of 0.82.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were paid a $0.8775 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, January 7th. Edison International’s payout ratio is presently 45.88%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays reduced their price objective on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. LADENBURG THALM/SH SH upped their price objective on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Wells Fargo & Company lowered Edison International from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $56.00 to $59.00 in a research note on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Edison International has a consensus rating of “Hold” and an average price target of $64.10.

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.