Edison International (NYSE:EIX) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in Edison International (NYSE:EIX) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 339,660 shares of the utilities provider’s stock after selling 8,118 shares during the quarter. Maryland State Retirement & Pension System owned about 0.09% of Edison International worth $27,118,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Crews Bank & Trust acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC boosted its holdings in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Edison International in the third quarter valued at approximately $32,000. Darwin Wealth Management LLC acquired a new stake in shares of Edison International in the third quarter valued at approximately $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $33,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Trading Down 0.4 %

Shares of EIX stock opened at $58.74 on Wednesday. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The stock has a market cap of $22.61 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.07 and a beta of 0.87. The business has a fifty day simple moving average of $55.80 and a 200-day simple moving average of $74.01. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. On average, analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is currently 100.30%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group decreased their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. Morgan Stanley decreased their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.54.

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.