Edison International $EIX Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in Edison International (NYSE:EIX) by 15.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 122,268 shares of the utilities provider’s stock after selling 22,529 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Edison International were worth $6,759,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. MAI Capital Management increased its stake in shares of Edison International by 20.8% during the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 202 shares during the period. Empowered Funds LLC increased its position in Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after purchasing an additional 211 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Edison International by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock worth $3,818,000 after buying an additional 213 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Edison International by 21.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock valued at $63,000 after buying an additional 217 shares during the period. Finally, Generali Asset Management SPA SGR lifted its holdings in shares of Edison International by 0.7% in the 3rd quarter. Generali Asset Management SPA SGR now owns 31,539 shares of the utilities provider’s stock valued at $1,743,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX opened at $71.43 on Friday. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.01 and a beta of 0.82. Edison International has a 52 week low of $47.73 and a 52 week high of $71.61. The company’s 50-day moving average price is $61.15 and its 200 day moving average price is $57.74. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were paid a dividend of $0.8775 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.9%. Edison International’s dividend payout ratio is 45.88%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen cut Edison International from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company cut shares of Edison International from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $56.00 to $59.00 in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. UBS Group lowered shares of Edison International from a “buy” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $78.00 in a research report on Friday. Finally, Barclays dropped their target price on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $64.10.

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.