Essex Investment Management Co. LLC purchased a new position in Edison International (NYSE:EIX) during the 4th quarter, HoldingsChannel reports. The fund purchased 500 shares of the utilities provider’s stock, valued at approximately $28,000.
Other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue grew its stake in Edison International by 3.9% in the fourth quarter. State of Alaska Department of Revenue now owns 96,634 shares of the utilities provider’s stock worth $5,484,000 after purchasing an additional 3,629 shares during the period. Perella Weinberg Partners Capital Management LP purchased a new stake in Edison International in the fourth quarter worth $662,000. KBC Group NV grew its stake in Edison International by 222.6% in the fourth quarter. KBC Group NV now owns 115,350 shares of the utilities provider’s stock worth $6,549,000 after purchasing an additional 79,599 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Edison International by 17.0% in the third quarter. Nisa Investment Advisors LLC now owns 37,125 shares of the utilities provider’s stock worth $2,513,000 after acquiring an additional 5,385 shares during the last quarter. Finally, KCS Wealth Advisory grew its stake in shares of Edison International by 15.8% in the third quarter. KCS Wealth Advisory now owns 13,739 shares of the utilities provider’s stock worth $930,000 after acquiring an additional 1,872 shares during the last quarter. 83.48% of the stock is currently owned by institutional investors.
Get Edison International alerts:A number of research firms have recently commented on EIX. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Thursday, January 24th. Wells Fargo & Co cut their target price on Edison International from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, December 10th. ValuEngine raised Edison International from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Mizuho raised Edison International from a “neutral” rating to a “buy” rating and cut their target price for the stock from $62.00 to $57.50 in a research note on Wednesday, November 21st. Finally, Citigroup increased their target price on Edison International to $64.00 and gave the stock a “buy” rating in a research note on Thursday, January 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $68.04.
Shares of NYSE:EIX opened at $61.41 on Friday. The firm has a market cap of $19.96 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 2.27 and a beta of -0.04. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 0.72. Edison International has a 1 year low of $45.50 and a 1 year high of $71.00.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Monday, December 31st were issued a dividend of $0.6125 per share. This is an increase from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Friday, December 28th. Edison International’s dividend payout ratio is presently 54.44%.
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About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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