Employees Retirement System of Texas Has $3.36 Million Stock Position in Edison International (NYSE:EIX)

Employees Retirement System of Texas decreased its position in Edison International (NYSE:EIX) by 34.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 $3,359,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Edison International by 16.9% in the 3rd quarter. Barclays PLC now owns 918,489 shares of the utilities provider’s stock worth $79,991,000 after buying an additional 132,749 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Edison International by 1.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 31,406 shares of the utilities provider’s stock worth $2,507,000 after buying an additional 524 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Edison International by 0.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,614 shares of the utilities provider’s stock worth $7,315,000 after buying an additional 682 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Edison International in the 4th quarter worth approximately $259,000. Finally, Blue Trust Inc. raised its holdings in shares of Edison International by 28.8% in the 4th quarter. Blue Trust Inc. now owns 3,175 shares of the utilities provider’s stock worth $277,000 after buying an additional 710 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EIX shares. Morgan Stanley set a $52.00 target price on Edison International and gave the stock an “underweight” rating in a report on Thursday, May 22nd. Wells Fargo & Company dropped their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Barclays raised their price target on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. The Goldman Sachs Group dropped their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Mizuho dropped their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. One equities research 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’s stock. Based on data from MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.89.

Edison International Stock Up 0.7%

Shares of EIX opened at $56.62 on Tuesday. The firm has a market capitalization of $21.78 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.07 and a beta of 0.77. 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 business’s fifty day moving average price is $56.77 and its two-hundred day moving average price is $64.04. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. On average, 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 was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were given a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.85%. Edison International’s payout ratio is 46.95%.

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.