Edison International (EIX) Position Lifted by Lazard Asset Management LLC
Lazard Asset Management LLC raised its position in Edison International (NYSE:EIX) by 9.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 471,145 shares of the utilities provider’s stock after purchasing an additional 40,487 shares during the period. Lazard Asset Management LLC’s holdings in Edison International were worth $29,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerebellum GP LLC acquired a new position in Edison International in the 4th quarter valued at $116,000. Amica Retiree Medical Trust acquired a new position in Edison International in the 3rd quarter valued at $138,000. First Command Financial Services Inc. acquired a new position in Edison International in the 4th quarter valued at $154,000. Advisory Services Network LLC grew its holdings in Edison International by 1,842.3% in the 4th quarter. Advisory Services Network LLC now owns 2,661 shares of the utilities provider’s stock valued at $168,000 after buying an additional 2,524 shares in the last quarter. Finally, KCS Wealth Advisory bought a new stake in shares of Edison International during the 4th quarter valued at $206,000. 81.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Edison International (NYSE EIX) opened at $59.59 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 0.84. Edison International has a 1 year low of $57.63 and a 1 year high of $83.38. The firm has a market capitalization of $19,415.09, a price-to-earnings ratio of 13.30, a P/E/G ratio of 2.41 and a beta of 0.20.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a dividend of $0.605 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.42 annualized dividend and a dividend yield of 4.06%. Edison International’s dividend payout ratio is currently 140.70%.
A number of analysts have recently weighed in on the company. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Citigroup set a $87.00 target price on Edison International and gave the company a “hold” rating in a research report on Tuesday, December 12th. Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 6th. Deutsche Bank cut their target price on Edison International to $78.00 and set a “hold” rating for the company in a research report on Wednesday, December 6th. Finally, Goldman Sachs Group set a $70.00 target price on Edison International and gave the company a “hold” rating in a research report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $77.07.
Edison International Company Profile
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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