Teachers Retirement System of The State of Kentucky lessened its stake in Edison International (NYSE:EIX – Get Rating) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,812 shares of the utilities provider’s stock after selling 1,166 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Edison International were worth $1,880,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in EIX. Capital International Investors increased its holdings in shares of Edison International by 360.4% in the fourth quarter. Capital International Investors now owns 12,519,754 shares of the utilities provider’s stock valued at $854,473,000 after purchasing an additional 9,800,598 shares during the last quarter. Capital Research Global Investors increased its stake in Edison International by 28.5% during the fourth quarter. Capital Research Global Investors now owns 21,567,094 shares of the utilities provider’s stock worth $1,471,953,000 after acquiring an additional 4,777,038 shares during the last quarter. Norges Bank acquired a new stake in Edison International during the fourth quarter worth $265,494,000. State Street Corp increased its stake in Edison International by 6.8% during the first quarter. State Street Corp now owns 27,888,808 shares of the utilities provider’s stock worth $1,973,974,000 after acquiring an additional 1,780,762 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Edison International by 36.8% during the first quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock worth $401,877,000 after acquiring an additional 1,541,989 shares during the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Barclays cut their target price on Edison International from $73.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Evercore ISI cut their target price on Edison International to $71.00 in a research note on Tuesday, August 9th. Bank of America reissued an “underperform” rating on shares of Edison International in a research note on Thursday, July 14th. Morgan Stanley cut Edison International from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $69.00 to $62.00 in a research note on Tuesday, September 6th. Finally, UBS Group dropped their price objective on Edison International from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Edison International has a consensus rating of “Hold” and a consensus target price of $72.44.
Edison International Trading Down 1.0 %
Edison International (NYSE:EIX – Get Rating) last released its earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.57 billion. Edison International had a return on equity of 12.42% and a net margin of 3.63%. Edison International’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $0.94 earnings per share. Sell-side analysts anticipate that Edison International will post 4.43 earnings per share for the current fiscal year.
Edison International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.70 dividend. The ex-dividend date is Thursday, September 29th. This represents a $2.80 dividend on an annualized basis and a yield of 4.14%. Edison International’s dividend payout ratio (DPR) is presently 212.12%.
Edison International Company Profile
Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.
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