5 Income Stocks with Over 10 Years of Dividend Increases

2. Edison International (NYSE:EIX)

Dividend Yield as of January 19: 4.39%

Number of Hedge Fund Holders: 25

Number of Years of Dividend Increases: 18

Edison International (NYSE:EIX) is a California-based public utility holding company providing electricity and energy solutions via its subsidiaries, namely Southern California Edison and Edison Energy. 

On December 10, Edison International (NYSE:EIX) declared a $0.70 per share quarterly dividend, which is a 5.7% increase from the prior dividend of $0.66. The dividend will be paid on January 31, to shareholders of record on December 31. This marks the 18th year of consecutive dividend increases by the company. 

Argus analyst Gary Hovis raised the price target on Edison International (NYSE:EIX) to $73 from $68 and kept a Buy rating on the shares on December 29. The analyst is positive on Edison International (NYSE:EIX)’s forward earnings visibility, favorable regulatory environment, and improving financial strength while noting that the company is seeing increased revenue from the recovery of its investments in infrastructure projects and alternative energy facilities.

Among the hedge funds tracked by Insider Monkey, Zimmer Partners is one of the leading Edison International (NYSE:EIX) stakeholders, with 4.3 million shares worth $240.4 million. Overall, 25 hedge funds were long Edison International (NYSE:EIX) in Q3 2021, up from 18 funds in the preceding quarter.