California Public Employees Retirement System Increases Stock Position in Edison International (NYSE:EIX)

California Public Employees Retirement System raised its position in shares of Edison International (NYSE:EIX) by 62.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,514,003 shares of the utilities provider’s stock after buying an additional 580,117 shares during the period. California Public Employees Retirement System’s holdings in Edison International were worth $108,236,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EIX. Bruce G. Allen Investments LLC purchased a new stake in Edison International during the 4th quarter valued at $27,000. WASHINGTON TRUST Co boosted its position in Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 270 shares during the period. Lindbrook Capital LLC boosted its position in Edison International by 144.4% during the 3rd quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after buying an additional 397 shares during the period. Authentikos Wealth Advisory LLC purchased a new stake in Edison International during the 3rd quarter valued at $47,000. Finally, First Command Advisory Services Inc. purchased a new stake in Edison International during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on EIX. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Royal Bank of Canada decreased their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group began coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. Barclays upped their price objective on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, TheStreet lowered shares of Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $73.60.

Edison International Stock Up 0.2 %

Shares of Edison International stock opened at $70.81 on Wednesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The company has a 50-day moving average of $68.70 and a 200 day moving average of $67.60. The firm has a market cap of $27.24 billion, a price-to-earnings ratio of 22.70 and a beta of 0.96. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same period last year, the business earned $1.14 EPS. As a group, sell-side analysts anticipate that Edison International will post 4.98 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.41%. Edison International’s dividend payout ratio is currently 100.00%.

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.