Maryland State Retirement & Pension System Boosts Stake in Edison International (NYSE:EIX)

Key Points

• The **Maryland State Retirement & Pension System** increased its stake in **Edison International** by **1.9%**, holding **346,113 shares** worth approximately **$20.39 million** as of their latest SEC filing.
• The company's latest quarterly earnings showed an EPS of **$0.97**, exceeding analyst expectations, while also announcing a quarterly dividend of **$0.8275**, leading to a **6.0% dividend yield**.

Maryland State Retirement & Pension System grew its holdings in shares of Edison International (NYSE:EIX - Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 346,113 shares of the utilities provider's stock after acquiring an additional 6,453 shares during the period. Maryland State Retirement & Pension System owned about 0.09% of Edison International worth $20,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of EIX. Wells Fargo & Company MN grew its position in shares of Edison International by 3.5% during the 4th quarter. Wells Fargo & Company MN now owns 475,891 shares of the utilities provider's stock valued at $37,995,000 after acquiring an additional 15,889 shares during the period. Federated Hermes Inc. lifted its stake in Edison International by 5,334.4% in the 4th quarter. Federated Hermes Inc. now owns 266,668 shares of the utilities provider's stock worth $21,291,000 after purchasing an additional 261,761 shares in the last quarter. Bank of Montreal Can lifted its stake in Edison International by 4.5% in the 4th quarter. Bank of Montreal Can now owns 751,731 shares of the utilities provider's stock worth $60,018,000 after purchasing an additional 32,317 shares in the last quarter. Invesco Ltd. lifted its stake in Edison International by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock worth $384,560,000 after purchasing an additional 1,331,941 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in Edison International by 390.8% in the 4th quarter. Bank of Nova Scotia now owns 242,233 shares of the utilities provider's stock worth $19,340,000 after purchasing an additional 192,882 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Stock Down 2.2%

Shares of EIX traded down $1.19 during mid-day trading on Friday, hitting $53.75. The company's stock had a trading volume of 4,797,568 shares, compared to its average volume of 3,802,409. The company's 50-day moving average is $51.79 and its 200-day moving average is $54.28. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The firm has a market capitalization of $20.68 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 1.29 and a beta of 0.75. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The company's revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were given a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. Edison International's dividend payout ratio is presently 48.60%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Morgan Stanley reduced their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Evercore ISI restated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Finally, Barclays boosted their target price on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Edison International has an average rating of "Moderate Buy" and an average target price of $76.19.

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.