Employees Retirement System of Texas Sells 22,206 Shares of Edison International (NYSE:EIX)

Employees Retirement System of Texas lessened its position in shares of Edison International (NYSE:EIX) by 34.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,070 shares of the utilities provider’s stock after selling 22,206 shares during the quarter. Employees Retirement System of Texas’ holdings in Edison International were worth $33,589,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Edison International in the 4th quarter valued at about $25,000. Groupama Asset Managment boosted its stake in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Edison International during the 4th quarter worth $33,000. ST Germain D J Co. Inc. grew its holdings in Edison International by 88.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 200 shares during the period. Finally, Raleigh Capital Management Inc. raised its position in shares of Edison International by 285.3% during the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

EIX opened at $54.71 on Monday. The firm has a market capitalization of $21.06 billion, a PE ratio of 16.04, a PEG ratio of 1.07 and a beta of 0.74. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The business’s 50-day simple moving average is $54.84 and its 200 day simple moving average is $71.45. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Morgan Stanley increased their price target on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Finally, Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus price target of $76.82.

About Edison International

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.