Van ECK Associates Corp Increases Stake in Edison International (NYSE:EIX)

Van ECK Associates Corp raised its holdings in shares of Edison International (NYSE:EIX) by 47.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,355 shares of the utilities provider’s stock after acquiring an additional 51,639 shares during the quarter. Van ECK Associates Corp’s holdings in Edison International were worth $12,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of EIX. Crews Bank & Trust bought a new stake in Edison International during the fourth quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Edison International during the 3rd quarter valued at about $26,000. Groupama Asset Managment grew its stake in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the period. Eastern Bank purchased a new stake in Edison International in the 3rd quarter worth approximately $27,000. Finally, Larson Financial Group LLC raised its stake in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on EIX shares. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday. Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group lowered their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Hold” and an average price target of $80.39.

Edison International Stock Performance

Shares of NYSE:EIX opened at $50.11 on Friday. The firm has a fifty day simple moving average of $67.14 and a two-hundred day simple moving average of $78.53. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $19.40 billion, a P/E ratio of 14.69, a PEG ratio of 1.05 and a beta of 0.90. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.61%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s payout ratio is presently 97.07%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.