California State Teachers Retirement System boosted its holdings in shares of Edison International (NYSE:EIX – Get Rating) by 2.9% during the third quarter, HoldingsChannel reports. The fund owned 707,305 shares of the utilities provider’s stock after purchasing an additional 19,905 shares during the quarter. California State Teachers Retirement System’s holdings in Edison International were worth $40,019,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of Edison International by 3.6% in the third quarter. Fifth Third Bancorp now owns 8,484 shares of the utilities provider’s stock worth $480,000 after purchasing an additional 297 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Edison International by 34.8% during the second quarter. Cetera Investment Advisers now owns 9,322 shares of the utilities provider’s stock worth $590,000 after acquiring an additional 2,406 shares during the last quarter. Martingale Asset Management L P lifted its stake in shares of Edison International by 30.8% in the second quarter. Martingale Asset Management L P now owns 8,512 shares of the utilities provider’s stock worth $539,000 after acquiring an additional 2,006 shares during the period. Barclays PLC boosted its holdings in Edison International by 30.9% in the third quarter. Barclays PLC now owns 449,187 shares of the utilities provider’s stock valued at $25,412,000 after acquiring an additional 106,084 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Edison International by 2,742.8% during the 3rd quarter. National Bank of Canada FI now owns 532,789 shares of the utilities provider’s stock valued at $30,186,000 after purchasing an additional 514,047 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on EIX. Wells Fargo & Company downgraded shares of Edison International from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $76.00 to $73.00 in a research report on Wednesday, February 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 price target on shares of Edison International in a research report on Monday, March 6th. StockNews.com began coverage on Edison International in a research report on Thursday. They issued a “hold” rating for the company. Morgan Stanley cut their target price on Edison International from $57.00 to $54.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 22nd. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $75.00 in a report on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.64.
Edison International Price Performance
Edison International (NYSE:EIX – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The utilities provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.07. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.61 billion. Edison International had a net margin of 4.48% and a return on equity of 12.05%. During the same quarter in the prior year, the company posted $1.16 earnings per share. Sell-side analysts anticipate that Edison International will post 4.72 earnings per share for the current fiscal year.
Edison International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.7375 per share. The ex-dividend date is Thursday, March 30th. This represents a $2.95 dividend on an annualized basis and a yield of 4.35%. Edison International’s dividend payout ratio (DPR) is currently 184.38%.
Edison International Profile
Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.
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