Nissay Asset Management Corp Japan ADV boosted its holdings in Edison International (NYSE:EIX) by 83.3% during the first quarter, HoldingsChannel.com reports. The fund owned 46,186 shares of the utilities provider’s stock after purchasing an additional 20,991 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Edison International were worth $2,860,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of EIX. South Dakota Investment Council grew its holdings in Edison International by 12.9% in the 1st quarter. South Dakota Investment Council now owns 25,300 shares of the utilities provider’s stock valued at $1,567,000 after buying an additional 2,900 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Edison International by 1.6% in the 1st quarter. Victory Capital Management Inc. now owns 48,489 shares of the utilities provider’s stock valued at $3,002,000 after buying an additional 781 shares in the last quarter. Banque Pictet & Cie SA acquired a new position in Edison International in the 1st quarter valued at $248,000. Robeco Institutional Asset Management B.V. grew its holdings in Edison International by 8.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 104,707 shares of the utilities provider’s stock valued at $6,483,000 after buying an additional 8,351 shares in the last quarter. Finally, Sigma Planning Corp acquired a new position in Edison International in the 1st quarter valued at $210,000. Institutional investors and hedge funds own 84.66% of the company’s stock.
EIX opened at $59.85 on Thursday. The firm has a market cap of $19.60 billion, a PE ratio of 14.42, a P/E/G ratio of 2.49 and a beta of -0.05. Edison International has a 52-week low of $45.50 and a 52-week high of $71.00. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.6125 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.45 annualized dividend and a dividend yield of 4.09%. Edison International’s dividend payout ratio is currently 59.04%.
A number of brokerages have commented on EIX. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Thursday, January 24th. Mizuho upped their price objective on Edison International from $57.00 to $66.50 and gave the company a “buy” rating in a report on Thursday, March 14th. ValuEngine raised Edison International from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Wolfe Research raised Edison International from a “peer perform” rating to an “outperform” rating in a report on Monday, May 6th. Finally, Citigroup increased their target price on Edison International to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $70.14.
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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