State of Tennessee Department of Treasury Lowers Stake in Edison International (NYSE:EIX)

State of Tennessee Department of Treasury decreased its stake in shares of Edison International (NYSE:EIX - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 172,066 shares of the utilities provider's stock after selling 7,503 shares during the quarter. State of Tennessee Department of Treasury's holdings in Edison International were worth $13,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in Edison International in the fourth quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Edison International in the fourth quarter valued at $33,000. Raleigh Capital Management Inc. raised its position in Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 311 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in Edison International by 88.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Edison International by 171.5% in the fourth quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider's stock valued at $36,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EIX. LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. Barclays cut their price target on shares of Edison International from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company decreased their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.75.

Edison International Price Performance

Shares of NYSE:EIX traded down $0.25 during trading on Friday, hitting $57.95. 2,966,172 shares of the stock were exchanged, compared to its average volume of 2,955,108. The company has a market cap of $22.31 billion, a PE ratio of 16.99, a P/E/G ratio of 1.07 and a beta of 0.74. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average price of $56.12 and a two-hundred day moving average price of $68.25. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. On average, analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio (DPR) is presently 100.30%.

Edison International Company 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.