Public Employees Retirement System of Ohio lowered its stake in shares of Edison International (NYSE:EIX) by 10.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,180 shares of the utilities provider’s stock after selling 13,170 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Edison International were worth $7,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Coastal Investment Advisors Inc. purchased a new position in shares of Edison International in the 2nd quarter worth approximately $32,000. Trust Co. of Vermont increased its position in shares of Edison International by 101.2% during the second quarter. Trust Co. of Vermont now owns 497 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 250 shares in the last quarter. Sandy Spring Bank increased its position in shares of Edison International by 220.9% during the second quarter. Sandy Spring Bank now owns 552 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 380 shares in the last quarter. Bremer Bank National Association purchased a new stake in shares of Edison International during the 1st quarter valued at $39,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Edison International by 189.2% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 645 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 422 shares during the last quarter. 78.13% of the stock is currently owned by institutional investors.
Shares of EIX stock traded up $0.13 on Wednesday, hitting $72.92. The company had a trading volume of 54,155 shares, compared to its average volume of 2,022,871. The firm has a market cap of $25.17 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 2.90 and a beta of 0.11. The company has a 50-day moving average price of $72.41 and a 200-day moving average price of $65.62. The company has a quick ratio of 0.64, a current ratio of 0.69 and a debt-to-equity ratio of 1.23. Edison International has a twelve month low of $45.50 and a twelve month high of $75.39.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.613 dividend. This represents a $2.45 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Edison International’s previous quarterly dividend of $0.61. Edison International’s dividend payout ratio (DPR) is 59.04%.
Several research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Edison International from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Barclays increased their price target on Edison International from $72.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and increased their price target for the company from $67.00 to $72.00 in a research note on Tuesday, June 4th. TheStreet raised Edison International from a “c+” rating to a “b-” rating in a report on Friday, July 26th. Finally, Wells Fargo & Co set a $73.00 price target on Edison International and gave the stock a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $71.09.
Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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