Edison International (NYSE:EIX) Stock Position Lowered by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in shares of Edison International (NYSE:EIX) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,795 shares of the utilities provider’s stock after selling 1,620 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Edison International were worth $2,507,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EIX. Lake Street Advisors Group LLC boosted its position in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after buying an additional 129 shares in the last quarter. SFE Investment Counsel grew its position in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after buying an additional 130 shares during the last quarter. Equitable Trust Co. increased its holdings in shares of Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after buying an additional 132 shares in the last quarter. Finally, TIAA Trust National Association increased its holdings in shares of Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EIX has been the subject of several analyst reports. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Argus raised their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Trading Up 0.3 %

Edison International stock opened at $81.89 on Monday. Edison International has a one year low of $63.15 and a one year high of $88.77. The company’s fifty day moving average price is $84.27 and its two-hundred day moving average price is $81.21. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market capitalization of $31.70 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. On average, analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 4.04%. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.03% of the stock is currently owned by insiders.

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.