New York State Common Retirement Fund Sells 18,200 Shares of Edison International $EIX

New York State Common Retirement Fund decreased its stake in shares of Edison International (NYSE:EIX) by 7.7% in the 3rd quarter, Holdings Channel reports. The fund owned 216,921 shares of the utilities provider’s stock after selling 18,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Edison International were worth $11,991,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Edison International by 169.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,843 shares of the utilities provider’s stock valued at $6,901,000 after purchasing an additional 78,531 shares during the last quarter. Nordea Investment Management AB raised its stake in Edison International by 1.7% in the third quarter. Nordea Investment Management AB now owns 1,695,550 shares of the utilities provider’s stock valued at $92,984,000 after buying an additional 28,586 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Edison International by 5.3% in the second quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock valued at $18,809,000 after buying an additional 18,412 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Edison International in the second quarter valued at approximately $456,000. Finally, iA Global Asset Management Inc. boosted its stake in shares of Edison International by 86.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 44,515 shares of the utilities provider’s stock worth $2,461,000 after acquiring an additional 20,691 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EIX has been the subject of several research reports. Barclays cut their price target on Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. UBS Group reissued a “buy” rating on shares of Edison International in a research report on Friday, January 16th. TD Cowen started coverage on shares of Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 target price for the company. Jefferies Financial Group decreased their price target on shares of Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Finally, Wall Street Zen raised shares of Edison International from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.30.

Edison International Stock Performance

Shares of NYSE:EIX opened at $60.69 on Tuesday. Edison International has a 12-month low of $47.73 and a 12-month high of $63.19. The company’s 50 day moving average price is $59.83 and its two-hundred day moving average price is $56.96. The firm has a market cap of $23.35 billion, a PE ratio of 7.93, a PEG ratio of 0.91 and a beta of 0.82. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were given a dividend of $0.8775 per share. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 45.88%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.