Employees Retirement System of Texas Lowers Holdings in Edison International (NYSE:EIX)

Employees Retirement System of Texas decreased its position in Edison International (NYSE:EIX - Free Report) by 34.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,070 shares of the utilities provider's stock after selling 22,206 shares during the quarter. Employees Retirement System of Texas' holdings in Edison International were worth $33,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of EIX. Swedbank AB lifted its holdings in shares of Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider's stock worth $41,791,000 after acquiring an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Edison International in the 4th quarter worth $235,000. KBC Group NV raised its position in Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider's stock worth $4,898,000 after purchasing an additional 11,764 shares during the period. abrdn plc lifted its stake in Edison International by 19.5% in the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider's stock worth $134,335,000 after purchasing an additional 276,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Edison International by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock valued at $192,955,000 after buying an additional 76,654 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

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Analysts Set New Price Targets

EIX has been the subject of a number of recent research reports. Barclays lowered their target price on Edison International from $65.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Morgan Stanley increased their price objective on Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Wells Fargo & Company decreased their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.75.

Edison International Trading Up 1.3 %

Shares of NYSE EIX traded up $0.72 during midday trading on Friday, hitting $56.12. 2,085,321 shares of the company traded hands, compared to its average volume of 2,926,745. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The firm has a market cap of $21.61 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.07 and a beta of 0.74. The stock has a 50-day moving average price of $54.86 and a 200 day moving average price of $70.15. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analysts' expectations of $3.92 billion. As a group, analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.90%. The ex-dividend date is Monday, April 7th. Edison International's payout ratio is currently 100.30%.

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.