California Public Employees Retirement System Grows Stock Position in Edison International (NYSE:EIX)

California Public Employees Retirement System lifted its stake in shares of Edison International (NYSE:EIX - Free Report) by 62.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,514,003 shares of the utilities provider's stock after acquiring an additional 580,117 shares during the period. California Public Employees Retirement System owned 0.39% of Edison International worth $108,236,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EIX. Foster & Motley Inc. increased its stake in Edison International by 17.4% during the 4th quarter. Foster & Motley Inc. now owns 84,877 shares of the utilities provider's stock valued at $6,068,000 after purchasing an additional 12,583 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Edison International by 1.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 33,977 shares of the utilities provider's stock valued at $2,429,000 after purchasing an additional 592 shares in the last quarter. Lindbrook Capital LLC increased its stake in Edison International by 40.2% during the 4th quarter. Lindbrook Capital LLC now owns 942 shares of the utilities provider's stock valued at $67,000 after purchasing an additional 270 shares in the last quarter. abrdn plc increased its stake in Edison International by 97.8% during the 4th quarter. abrdn plc now owns 199,382 shares of the utilities provider's stock valued at $14,254,000 after purchasing an additional 98,591 shares in the last quarter. Finally, Institute for Wealth Management LLC. bought a new stake in Edison International during the 4th quarter valued at $208,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Guggenheim upgraded shares of Edison International from a "neutral" rating to a "buy" rating and boosted their price target for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. The Goldman Sachs Group started coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a "neutral" rating and a $78.00 target price for the company. Barclays upped their target price on shares of Edison International from $69.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Monday, February 26th. TheStreet lowered shares of Edison International from a "b" rating to a "c+" rating in a research note on Thursday, February 22nd. Finally, StockNews.com upgraded shares of Edison International from a "sell" rating to a "hold" rating in a research note on Saturday, February 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Edison International presently has a consensus rating of "Hold" and a consensus price target of $73.60.

Edison International Stock Performance

Shares of NYSE:EIX traded down $0.03 during midday trading on Wednesday, reaching $70.82. The company had a trading volume of 3,688,025 shares, compared to its average volume of 2,179,318. The company's 50 day moving average price is $68.70 and its 200 day moving average price is $67.60. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86. The stock has a market cap of $27.24 billion, a P/E ratio of 22.70 and a beta of 0.96. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same period in the previous year, the firm earned $1.14 EPS. As a group, sell-side analysts anticipate that Edison International will post 4.98 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.41%. The ex-dividend date is Wednesday, March 27th. Edison International's dividend payout ratio (DPR) is presently 100.00%.

Edison International Company 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.