Maryland State Retirement & Pension System Has $20.75 Million Stock Holdings in Edison International $EIX

Maryland State Retirement & Pension System raised its stake in shares of Edison International (NYSE:EIX) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 375,358 shares of the utilities provider’s stock after purchasing an additional 10,833 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Edison International were worth $20,750,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EIX. Evergreen Capital Management LLC lifted its position in Edison International by 387.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 19,233 shares of the utilities provider’s stock valued at $1,063,000 after acquiring an additional 15,286 shares in the last quarter. Csenge Advisory Group acquired a new stake in shares of Edison International in the 3rd quarter valued at about $466,000. Nwam LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at about $332,000. Avantra Family Wealth Inc. bought a new stake in shares of Edison International in the third quarter valued at about $227,000. Finally, First National Corp MA ADV acquired a new position in shares of Edison International during the third quarter worth about $224,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. TD Cowen began coverage on shares of Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Jefferies Financial Group upped their target price on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Finally, Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.50.

Insider Transactions at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the transaction, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Edison International Stock Performance

NYSE:EIX opened at $62.48 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $63.97. The company has a market cap of $24.04 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.91 and a beta of 0.83. The stock has a fifty day moving average price of $59.14 and a 200-day moving average price of $56.14.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period last year, the firm posted $1.51 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be issued a $0.8775 dividend. The ex-dividend date is Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. Edison International’s dividend payout ratio (DPR) is currently 45.88%.

About Edison International

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.