Employees Retirement System of Texas Has $33.59 Million Stake in Edison International (NYSE:EIX)

Employees Retirement System of Texas lessened its holdings in Edison International (NYSE:EIX) by 34.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,070 shares of the utilities provider’s stock after selling 22,206 shares during the period. Employees Retirement System of Texas’ holdings in Edison International were worth $33,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EIX. Bank of Montreal Can grew its holdings in shares of Edison International by 4.5% during the fourth quarter. Bank of Montreal Can now owns 751,731 shares of the utilities provider’s stock worth $60,018,000 after purchasing an additional 32,317 shares during the last quarter. Federated Hermes Inc. grew its holdings in Edison International by 5,334.4% during the 4th quarter. Federated Hermes Inc. now owns 266,668 shares of the utilities provider’s stock worth $21,291,000 after acquiring an additional 261,761 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Edison International during the 4th quarter worth about $255,000. Russell Investments Group Ltd. raised its holdings in Edison International by 10.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,210,887 shares of the utilities provider’s stock worth $96,639,000 after purchasing an additional 112,588 shares during the last quarter. Finally, Wedbush Securities Inc. raised its stake in Edison International by 26.4% during the fourth quarter. Wedbush Securities Inc. now owns 7,922 shares of the utilities provider’s stock worth $633,000 after buying an additional 1,656 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 6.3 %

Shares of Edison International stock opened at $54.71 on Monday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market capitalization of $21.06 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.07 and a beta of 0.74. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The stock’s 50-day simple moving average is $54.84 and its 200 day simple moving average is $71.45.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. As a group, research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.05%. Edison International’s payout ratio is 100.30%.

Analysts Set New Price Targets

Several brokerages have recently commented on EIX. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Barclays decreased their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average price target of $76.82.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.