Edison International (NYSE:EIX) Holdings Boosted by Versor Investments LP

Versor Investments LP raised its stake in Edison International (NYSE:EIX) by 177.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,965 shares of the utilities provider’s stock after acquiring an additional 25,565 shares during the period. Edison International accounts for about 0.6% of Versor Investments LP’s investment portfolio, making the stock its 17th biggest holding. Versor Investments LP’s holdings in Edison International were worth $3,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Highline Wealth Partners LLC acquired a new position in shares of Edison International during the third quarter worth approximately $26,000. Crews Bank & Trust bought a new stake in Edison International during the 4th quarter valued at $25,000. Larson Financial Group LLC boosted its position 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. Prospera Private Wealth LLC bought a new position in shares of Edison International in the third quarter worth $32,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Edison International in the third quarter worth $35,000. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EIX has been the subject of several research analyst reports. Morgan Stanley reduced their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and cut their target price for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $80.11.

Edison International Stock Performance

Shares of EIX opened at $52.62 on Thursday. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a 50-day moving average of $62.41 and a two-hundred day moving average of $76.87. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market cap of $20.37 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.29%. This is a boost from Edison International’s previous quarterly dividend of $0.78. 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.