New York State Teachers Retirement System Has $33.98 Million Stock Holdings in Edison International (NYSE:EIX)

New York State Teachers Retirement System raised its stake in Edison International (NYSE:EIX - Free Report) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 390,144 shares of the utilities provider's stock after acquiring an additional 19,196 shares during the period. New York State Teachers Retirement System owned about 0.10% of Edison International worth $33,978,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International during the 2nd quarter worth $27,000. Eastern Bank bought a new position in Edison International in the 3rd quarter valued at $27,000. Country Trust Bank acquired a new stake in shares of Edison International in the 2nd quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider's stock worth $29,000 after acquiring an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Down 1.5 %

EIX stock traded down $1.27 during midday trading on Friday, hitting $81.13. 2,104,209 shares of the company's stock were exchanged, compared to its average volume of 1,999,599. Edison International has a one year low of $62.21 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.96 and a current ratio of 0.88. The company has a market cap of $31.41 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The stock's fifty day moving average price is $85.47 and its 200-day moving average price is $78.64.

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

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Monday, October 7th. Edison International's dividend payout ratio is 91.50%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research reports. Barclays lifted their price objective on Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Argus raised their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Guggenheim lifted their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.36.

Insider Activity

In other news, CEO J Andrew Murphy sold 23,896 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company's stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.03% of the company's stock.

Edison International Profile

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.