Maryland State Retirement & Pension System lessened its stake in shares of Edison International (NYSE:EIX – Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 366,061 shares of the utilities provider’s stock after selling 15,394 shares during the quarter. Maryland State Retirement & Pension System owned approximately 0.10% of Edison International worth $26,788,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of EIX. 10Elms LLP acquired a new stake in shares of Edison International during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC grew its position in Edison International by 170.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 281 shares during the last quarter. Ransom Advisory Ltd increased its holdings in Edison International by 74.9% in the 4th quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. Quest 10 Wealth Builders Inc. raised its position in Edison International by 866.7% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 702 shares during the last quarter. Finally, DV Equities LLC bought a new position in Edison International in the fourth quarter valued at about $52,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Edison International Trading Up 1.0%
NYSE EIX opened at $76.72 on Wednesday. The business’s 50-day moving average price is $72.19 and its two-hundred day moving average price is $69.43. Edison International has a 12 month low of $50.19 and a 12 month high of $77.95. The firm has a market capitalization of $29.52 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 1.32 and a beta of 0.66. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98.
Edison International Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 4.6%. Edison International’s dividend payout ratio (DPR) is presently 38.11%.
Analyst Upgrades and Downgrades
EIX has been the topic of several research reports. Wells Fargo & Company restated an “underweight” rating and set a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Barclays lifted their target price on shares of Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday. Seaport Research Partners lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Finally, Bank of America decreased their price target on shares of Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.73.
View Our Latest Stock Report on EIX
Edison International Company Profile
Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.
The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.
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