Teacher Retirement System of Texas Grows Stock Holdings in Edison International (NYSE:EIX)

Teacher Retirement System of Texas lifted its holdings in Edison International (NYSE:EIX - Free Report) by 303.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,581 shares of the utilities provider's stock after purchasing an additional 53,850 shares during the quarter. Teacher Retirement System of Texas' holdings in Edison International were worth $4,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIX. Norges Bank purchased a new position in Edison International during the fourth quarter worth $323,443,000. Canada Pension Plan Investment Board boosted its stake in shares of Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock worth $269,024,000 after purchasing an additional 2,643,571 shares during the period. Northern Trust Corp grew its holdings in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after purchasing an additional 2,016,017 shares during the last quarter. Ameriprise Financial Inc. raised its position in Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after purchasing an additional 1,673,204 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after buying an additional 1,559,501 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EIX shares. Morgan Stanley decreased their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Barclays lifted their target price on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. JPMorgan Chase & Co. decreased their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Finally, Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. One investment 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.82.

Edison International Stock Down 0.4%

Edison International stock traded down $0.22 during trading hours on Friday, reaching $51.07. The stock had a trading volume of 2,947,865 shares, compared to its average volume of 3,366,532. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77. The company has a market cap of $19.65 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 1.18 and a beta of 0.75. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The business's 50 day moving average price is $53.46 and its 200-day moving average price is $57.06.

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

Edison International Dividend Announcement

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 paid a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.48%. Edison International's payout ratio is 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.