New York State Teachers Retirement System Cuts Stock Position in Edison International (NYSE:EIX)

New York State Teachers Retirement System decreased its position in shares of Edison International (NYSE:EIX - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,992 shares of the utilities provider's stock after selling 39,027 shares during the period. New York State Teachers Retirement System owned about 0.09% of Edison International worth $19,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EIX. Bellwether Advisors LLC acquired a new stake in Edison International in the fourth quarter valued at $34,000. Rakuten Securities Inc. boosted its position in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after acquiring an additional 417 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Edison International in the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. acquired a new stake in shares of Edison International during the 4th quarter worth about $44,000. Finally, Mizuho Bank Ltd. acquired a new stake in shares of Edison International during the 4th quarter worth about $50,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Barclays upped their target price 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 reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. 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 research note on Wednesday, June 18th. Finally, Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. 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 stock. According to data from MarketBeat, Edison International has a consensus rating of "Moderate Buy" and an average target price of $76.82.

Edison International Stock Down 0.6%

Shares of Edison International stock opened at $52.54 on Thursday. The company has a market cap of $20.22 billion, a P/E ratio of 7.45, a PEG ratio of 1.24 and a beta of 0.75. The firm has a fifty day moving average of $54.12 and a two-hundred day moving average of $58.23. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96. Edison International has a one year low of $47.73 and a one year high of $88.77.

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

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be issued a $0.8275 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.30%. Edison International's dividend payout ratio is currently 46.95%.

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.

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