Canada Post Corp Registered Pension Plan Purchases 22,410 Shares of Edison International $EIX

Canada Post Corp Registered Pension Plan increased its position in Edison International (NYSE:EIX) by 598.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,152 shares of the utilities provider’s stock after purchasing an additional 22,410 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Edison International were worth $1,444,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MAI Capital Management lifted its stake in shares of Edison International by 20.8% in the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock valued at $60,000 after buying an additional 202 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 211 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Edison International by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock valued at $3,818,000 after acquiring an additional 213 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Edison International by 21.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 217 shares during the last quarter. Finally, Generali Asset Management SPA SGR increased its holdings in Edison International by 0.7% during the 3rd quarter. Generali Asset Management SPA SGR now owns 31,539 shares of the utilities provider’s stock worth $1,743,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE:EIX opened at $64.06 on Friday. The company has a market capitalization of $24.65 billion, a P/E ratio of 8.37, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company’s 50-day moving average is $60.17 and its 200 day moving average is $57.25. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $64.68.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were given a $0.8775 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is 45.88%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research report on Thursday, January 15th. UBS Group reaffirmed a “buy” rating on shares of Edison International in a report on Friday, January 16th. Barclays lowered their target price on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. TD Cowen assumed coverage on shares of Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 price target on the stock. Finally, Zacks Research downgraded shares of Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.30.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.