5 Best Dividend Contenders to Buy for 2022

2. Edison International (NYSE:EIX)

Number of Years of Dividend Increases: 18

Dividend Yield as of January 21: 4.45%

Number of Hedge Fund Holders: 25

Edison International (NYSE:EIX) is a California-based public utility company that supplies electricity and energy solutions to millions of customers. Edison International (NYSE:EIX) offers a dividend yield of 4.45% as of January 21, making it one of the best dividend contenders to buy for 2022. 

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 was payable on January 31, to shareholders of record on December 31. 

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. 

In the third quarter of 2021, 25 hedge funds were long Edison International (NYSE:EIX), up from 18 funds in the preceding quarter. Pzena Investment Management is the biggest Edison International (NYSE:EIX) stakeholder, with an $814.6 million position in the company.