New York State Common Retirement Fund Acquires 27,830 Shares of Edison International (NYSE:EIX)

New York State Common Retirement Fund grew its holdings in Edison International (NYSE:EIX - Free Report) by 13.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,121 shares of the utilities provider's stock after purchasing an additional 27,830 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Edison International worth $13,853,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EIX. Ballentine Partners LLC raised its stake in shares of Edison International by 70.0% in the 1st quarter. Ballentine Partners LLC now owns 4,647 shares of the utilities provider's stock valued at $274,000 after acquiring an additional 1,914 shares during the period. Focused Wealth Management Inc raised its stake in shares of Edison International by 16.0% in the 1st quarter. Focused Wealth Management Inc now owns 3,646 shares of the utilities provider's stock valued at $215,000 after acquiring an additional 502 shares during the period. Fidelis Capital Partners LLC raised its stake in shares of Edison International by 5.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 14,902 shares of the utilities provider's stock valued at $864,000 after acquiring an additional 743 shares during the period. Cerity Partners LLC increased its stake in Edison International by 343.5% during the 1st quarter. Cerity Partners LLC now owns 292,715 shares of the utilities provider's stock worth $17,247,000 after buying an additional 226,718 shares during the period. Finally, Sharpepoint LLC purchased a new stake in Edison International during the 1st quarter worth $1,196,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EIX. Barclays lifted 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. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Morgan Stanley reduced their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. dropped 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 report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and an average price target of $76.82.

Edison International Price Performance

NYSE:EIX traded down $0.19 during mid-day trading on Friday, reaching $51.14. 2,995,596 shares of the company were exchanged, compared to its average volume of 3,406,889. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The company has a fifty day moving average of $52.91 and a 200 day moving average of $55.70. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. The stock has a market cap of $19.68 billion, a PE ratio of 7.25, a PEG ratio of 1.21 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business's quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the company posted $1.13 EPS. On average, research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.47%. Edison International's payout ratio is presently 46.95%.

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.