Maryland State Retirement & Pension System Raises Position 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 boosted its holdings in Edison International (NYSE:EIX - Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 0.09% of Edison International worth $20,393,000 as of its most recent filing with the Securities and Exchange Commission.

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

Edison International Stock Performance

Shares of Edison International stock traded up $1.34 during trading hours on Monday, reaching $55.11. The company had a trading volume of 1,381,819 shares, compared to its average volume of 4,497,021. Edison International has a one year low of $47.73 and a one year high of $88.77. The business has a fifty day simple moving average of $51.79 and a 200 day simple moving average of $54.23. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The firm has a market cap of $21.21 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.26 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. On average, analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were paid 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 dividend yield of 6.0%. Edison International's dividend payout ratio is currently 48.60%.

Analyst Upgrades and Downgrades

A number of research firms have commented on EIX. Morgan Stanley decreased their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Barclays lifted their target price on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. lowered their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Edison International has an average rating of "Moderate Buy" and a consensus price target of $76.19.

About Edison International

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.