New York State Teachers Retirement System Purchases 41,419 Shares of Edison International $EIX

New York State Teachers Retirement System increased its position in Edison International (NYSE:EIX) by 12.6% during the second quarter, Holdings Channel.com reports. The firm owned 370,411 shares of the utilities provider’s stock after buying an additional 41,419 shares during the quarter. New York State Teachers Retirement System’s holdings in Edison International were worth $19,113,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Edison International in the 1st quarter worth $25,000. Investment Management Corp VA ADV lifted its holdings in shares of Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 265 shares in the last quarter. Kentucky Trust Co lifted its holdings in shares of Edison International by 66.7% in the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Edison International in the 1st quarter worth $35,000. Finally, American National Bank & Trust bought a new position in shares of Edison International in the 2nd quarter worth $32,000. 88.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley cut their target price on Edison International from $61.00 to $60.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. TD Cowen began coverage on Edison International in a report on Thursday. They issued a “buy” rating and a $71.00 target price on the stock. Jefferies Financial Group cut Edison International from a “buy” rating to a “hold” rating and dropped their price objective for the company from $70.00 to $57.00 in a research note on Thursday, October 2nd. Cowen began coverage on Edison International in a research note on Wednesday. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.25.

Edison International Price Performance

Shares of NYSE:EIX opened at $56.75 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. The stock’s fifty day simple moving average is $55.20 and its two-hundred day simple moving average is $54.40. Edison International has a 1-year low of $47.73 and a 1-year high of $88.64. The stock has a market cap of $21.84 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.80.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the firm posted $1.23 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.8%. Edison International’s dividend payout ratio (DPR) is currently 48.60%.

Edison International 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.