Kentucky Retirement Systems Sells 365 Shares of Edison International (NYSE:EIX)

Kentucky Retirement Systems lowered its holdings in shares of Edison International (NYSE:EIX) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 26,538 shares of the utilities provider’s stock after selling 365 shares during the period. Kentucky Retirement Systems’ holdings in Edison International were worth $2,119,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its holdings in Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after purchasing an additional 224,337 shares during the period. FMR LLC lifted 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 acquiring an additional 1,741,835 shares during the last quarter. Geode Capital Management LLC lifted its position in Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after acquiring an additional 210,461 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after acquiring an additional 28,240 shares during the last quarter. Finally, abrdn plc lifted its position in Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Barclays cut their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley cut their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Finally, Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Stock Performance

NYSE EIX opened at $52.10 on Friday. The firm’s fifty day moving average price is $64.07 and its two-hundred day moving average price is $77.52. The stock has a market cap of $20.17 billion, a PE ratio of 15.28, a PEG ratio of 1.07 and a beta of 0.90. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International Increases Dividend

The business also recently announced 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 represents a $3.31 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date was Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is presently 97.07%.

Edison International 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.