New York State Teachers Retirement System Lowers Stock Holdings in Edison International (NYSE:EIX)

New York State Teachers Retirement System cut its stake in shares of Edison International (NYSE:EIX) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 368,019 shares of the utilities provider’s stock after selling 22,125 shares during the period. New York State Teachers Retirement System’s holdings in Edison International were worth $29,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crews Bank & Trust purchased a new stake in shares of Edison International during the fourth quarter worth approximately $25,000. Highline Wealth Partners LLC purchased a new position in Edison International during the 3rd quarter worth $26,000. Groupama Asset Managment lifted its stake in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares during the period. Eastern Bank purchased a new stake in shares of Edison International in the third quarter valued at about $27,000. Finally, Larson Financial Group LLC increased its stake in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on EIX. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Barclays decreased their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 target price on shares of Edison International in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.39.

Edison International Price Performance

Shares of NYSE:EIX opened at $50.11 on Friday. 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 $67.14 and its two-hundred day moving average price is $78.53. The stock has a market cap of $19.40 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.61%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

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.