ARP Americas LP acquired a new position in shares of Edison International (NYSE:EIX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,200 shares of the utilities provider’s stock, valued at approximately $2,226,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EIX. Maple Brown Abbott Ltd bought a new stake in shares of Edison International during the 4th quarter worth $1,192,752,000. BlackRock Inc. boosted its holdings in shares of Edison International by 7.4% during the 4th quarter. BlackRock Inc. now owns 26,746,136 shares of the utilities provider’s stock worth $1,691,424,000 after buying an additional 1,832,822 shares during the period. USS Investment Management Ltd bought a new stake in shares of Edison International during the 3rd quarter worth $137,776,000. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Edison International by 170.6% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 2,143,455 shares of the utilities provider’s stock worth $135,552,000 after buying an additional 1,351,336 shares during the period. Finally, Capital International Investors bought a new stake in shares of Edison International during the 3rd quarter worth $95,783,000. 80.57% of the stock is owned by institutional investors and hedge funds.
EIX has been the subject of several recent analyst reports. SunTrust Banks reaffirmed a “buy” rating and set a $79.00 price objective on shares of Edison International in a report on Tuesday, December 26th. Zacks Investment Research downgraded shares of Edison International from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Edward Jones downgraded shares of Edison International from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. JPMorgan Chase & Co. initiated coverage on shares of Edison International in a report on Friday, January 12th. They issued a “neutral” rating and a $67.00 price target for the company. Finally, Goldman Sachs Group set a $70.00 price target on shares of Edison International and gave the company a “hold” rating in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Edison International has a consensus rating of “Hold” and a consensus price target of $77.21.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were issued a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.96%. This is an increase from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, December 28th. Edison International’s dividend payout ratio (DPR) is presently 55.25%.
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About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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