Lynx Investment Advisory Invests $512,000 in Edison International $EIX

Lynx Investment Advisory purchased a new stake in Edison International (NYSE:EIX) during the 3rd quarter, HoldingsChannel reports. The fund purchased 9,255 shares of the utilities provider’s stock, valued at approximately $512,000.

Several other hedge funds have also recently bought and sold shares of EIX. Norges Bank bought a new stake in shares of Edison International in the 2nd quarter worth about $268,801,000. AQR Capital Management LLC boosted its position in Edison International by 83.5% in the second quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after buying an additional 4,534,864 shares in the last quarter. Vanguard Group Inc. grew its stake in Edison International by 4.9% during the second quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after buying an additional 2,386,562 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Edison International by 237.2% during the second quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock worth $98,276,000 after buying an additional 1,339,806 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of Edison International by 109.6% during the second quarter. Man Group plc now owns 2,314,124 shares of the utilities provider’s stock worth $119,409,000 after buying an additional 1,209,964 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. raised their target price on Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Finally, Wells Fargo & Company lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $56.00 to $59.00 in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.30.

Edison International Stock Performance

Shares of Edison International stock opened at $67.19 on Thursday. The firm has a fifty day moving average of $60.65 and a two-hundred day moving average of $57.53. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.96 and a beta of 0.82. Edison International has a 52 week low of $47.73 and a 52 week high of $67.21.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.2%. This is an increase from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is 45.88%.

Edison International Profile

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.