Mondrian Investment Partners LTD Makes New Investment in Edison International $EIX

Mondrian Investment Partners LTD acquired a new stake in shares of Edison International (NYSE:EIX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,646 shares of the utilities provider’s stock, valued at approximately $810,000.

Several other hedge funds have also recently modified their holdings of the stock. MAI Capital Management increased its holdings in shares of Edison International by 20.8% in the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 202 shares during 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 valued at $523,000 after buying an additional 211 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Edison International by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock valued at $3,818,000 after buying an additional 213 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Edison International by 21.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 217 shares during the last quarter. Finally, Generali Asset Management SPA SGR increased its stake in Edison International by 0.7% in the 3rd quarter. Generali Asset Management SPA SGR now owns 31,539 shares of the utilities provider’s stock worth $1,743,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

EIX opened at $71.43 on Tuesday. The business has a fifty day moving average of $61.45 and a 200 day moving average of $57.96. The stock has a market cap of $27.49 billion, a P/E ratio of 9.34, a PEG ratio of 1.05 and a beta of 0.82. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. Edison International has a 52-week low of $47.73 and a 52-week high of $71.61.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio (DPR) is 45.88%.

Analyst Ratings Changes

Several research firms have commented on EIX. Zacks Research lowered shares of Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen downgraded shares of Edison International from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group reduced their price objective on Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Edison International in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus target price of $64.10.

Edison International Company 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.