New York State Common Retirement Fund Lowers Stock Holdings in Edison International (NYSE:EIX)

New York State Common Retirement Fund lowered its stake in shares of Edison International (NYSE:EIX) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 207,291 shares of the utilities provider’s stock after selling 13,000 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Edison International worth $16,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crews Bank & Trust purchased a new position in shares of Edison International in the 4th quarter worth about $25,000. Highline Wealth Partners LLC acquired a new position in shares of Edison International in the third quarter worth about $26,000. Groupama Asset Managment boosted its holdings 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 purchasing an additional 237 shares during the last quarter. Eastern Bank acquired a new stake in Edison International during the 3rd quarter valued at approximately $27,000. Finally, Larson Financial Group LLC increased its holdings in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and reduced their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley dropped their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Edison International has an average rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Price Performance

Shares of NYSE EIX opened at $52.10 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The business’s fifty day moving average price is $64.07 and its two-hundred day moving average price is $77.46. The firm has a market capitalization of $20.17 billion, a PE ratio of 15.28, a P/E/G ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a $0.8275 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.35%. 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%.

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.