Edison International (NYSE:EIX) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Edison International (NYSE:EIX) by 2.3% during the fourth quarter, Holdings Channel reports. The fund owned 339,660 shares of the utilities provider’s stock after selling 8,118 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Edison International were worth $27,118,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Assetmark Inc. boosted its stake in Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after buying an additional 157 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in Edison International in the 3rd quarter worth about $259,000. Oppenheimer Asset Management Inc. boosted its stake in Edison International by 3.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,892 shares of the utilities provider’s stock worth $949,000 after buying an additional 407 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Edison International by 7.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,884 shares of the utilities provider’s stock worth $338,000 after buying an additional 263 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Edison International by 9.1% in the 3rd quarter. Empowered Funds LLC now owns 6,392 shares of the utilities provider’s stock worth $557,000 after buying an additional 532 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of NYSE:EIX opened at $58.74 on Wednesday. The company has a market cap of $22.61 billion, a P/E ratio of 17.22, a PEG ratio of 1.07 and a beta of 0.87. 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 has a one year low of $49.06 and a one year high of $88.77. The business’s 50-day simple moving average is $55.80 and its 200 day simple moving average is $74.01.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. On average, sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.64%. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley decreased their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. Barclays decreased their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.54.

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.