Treasurer of the State of North Carolina Grows Holdings in Edison International (NYSE:EIX)

Treasurer of the State of North Carolina boosted its position in shares of Edison International (NYSE:EIX) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 167,306 shares of the utilities provider’s stock after acquiring an additional 1,050 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Edison International were worth $13,358,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB lifted its stake in shares of Edison International by 3.3% during the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after buying an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Edison International in the fourth quarter worth about $235,000. KBC Group NV grew its position in shares of Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after purchasing an additional 11,764 shares in the last quarter. abrdn plc raised its stake in Edison International by 19.5% during the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after purchasing an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Edison International by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after purchasing an additional 76,654 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EIX. Morgan Stanley lifted their price objective on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and an average price target of $76.75.

Edison International Stock Performance

NYSE EIX opened at $56.12 on Friday. The business’s 50 day moving average price is $54.86 and its 200-day moving average price is $70.15. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a market cap of $21.61 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.07 and a beta of 0.74. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last posted 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 firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is currently 100.30%.

About Edison International

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.