Employees Retirement System of Texas Sells 22,206 Shares of Edison International (NYSE:EIX)

Employees Retirement System of Texas lowered its holdings in Edison International (NYSE:EIX - Free Report) by 34.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,070 shares of the utilities provider's stock after selling 22,206 shares during the period. Employees Retirement System of Texas' holdings in Edison International were worth $3,359,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Crews Bank & Trust acquired a new position in shares of Edison International in the fourth quarter worth $25,000. Sierra Ocean LLC purchased a new position in Edison International in the fourth quarter valued at about $33,000. Bellwether Advisors LLC acquired a new position in Edison International in the 4th quarter worth about $34,000. OFI Invest Asset Management purchased a new stake in shares of Edison International during the 4th quarter worth about $38,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Edison International during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Stock Performance

NYSE:EIX traded down $0.27 during mid-day trading on Friday, hitting $55.61. 6,137,558 shares of the company's stock traded hands, compared to its average volume of 3,063,577. The firm has a market capitalization of $21.40 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The firm has a 50 day moving average of $56.58 and a two-hundred day moving average of $63.55. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. 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 posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 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 down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. On average, equities analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Morgan Stanley set a $52.00 target price on shares of Edison International and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. Barclays raised their price target on shares of Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Mizuho decreased their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Finally, UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. One 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.89.

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.