Edison International (NYSE:EIX) Stake Trimmed by Strs Ohio

Strs Ohio cut its position in shares of Edison International (NYSE:EIX) by 18.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,316 shares of the utilities provider’s stock after selling 6,435 shares during the period. Strs Ohio’s holdings in Edison International were worth $2,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Edison International by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,234,491 shares of the utilities provider’s stock worth $86,534,000 after purchasing an additional 137,840 shares during the period. Aviva PLC lifted its holdings in shares of Edison International by 21.5% in the first quarter. Aviva PLC now owns 151,158 shares of the utilities provider’s stock valued at $10,596,000 after purchasing an additional 26,797 shares in the last quarter. Prudential PLC purchased a new stake in shares of Edison International in the first quarter valued at $688,000. Cetera Investment Advisers boosted its position in shares of Edison International by 30.5% in the first quarter. Cetera Investment Advisers now owns 6,916 shares of the utilities provider’s stock worth $485,000 after buying an additional 1,617 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Edison International by 1.7% during the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock valued at $3,121,569,000 after buying an additional 731,841 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EIX shares. The Goldman Sachs Group started coverage on Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. TheStreet lowered shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Royal Bank of Canada lowered their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Mizuho decreased their target price on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Finally, 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 report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.60.

Edison International Stock Performance

Shares of EIX opened at $69.93 on Friday. The firm has a market cap of $26.90 billion, a price-to-earnings ratio of 22.41 and a beta of 0.96. The company’s fifty day moving average is $68.46 and its 200-day moving average is $67.39. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86. Edison International has a 12 month low of $58.82 and a 12 month high of $74.92.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the prior year, the business posted $1.14 earnings per share. Equities analysts expect that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.46%. Edison International’s dividend payout ratio (DPR) is currently 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.