Illinois Municipal Retirement Fund Has $10.21 Million Stake in Edison International (NYSE:EIX)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Edison International (NYSE:EIX) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,855 shares of the utilities provider’s stock after selling 3,815 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Edison International were worth $10,208,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EIX. FMR LLC increased its position in Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. abrdn plc increased its position in Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after buying an additional 422,752 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Edison International during the fourth quarter worth $31,877,000. Finally, Miller Howard Investments Inc. NY increased its position in Edison International by 565.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock worth $27,400,000 after buying an additional 291,619 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EIX has been the topic of several research analyst reports. Morgan Stanley lowered their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Stock Down 0.3 %

EIX stock opened at $52.08 on Wednesday. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The company has a market cap of $20.16 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The business’s 50-day simple moving average is $62.92 and its 200 day simple moving average is $77.04. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.36%. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

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.