Teacher Retirement System of Texas Has $14.30 Million Position in Edison International (EIX)
Teacher Retirement System of Texas increased its position in Edison International (NYSE:EIX) by 68.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,333 shares of the utilities provider’s stock after acquiring an additional 75,473 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Edison International worth $14,302,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in EIX. Sun Life Financial INC grew its position in Edison International by 16,935.7% in the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after buying an additional 2,371 shares in the last quarter. OxFORD Asset Management LLP bought a new position in Edison International in the 2nd quarter valued at about $204,000. TCI Wealth Advisors Inc. grew its position in Edison International by 139.7% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after buying an additional 1,533 shares in the last quarter. Shelton Capital Management bought a new position in Edison International in the 2nd quarter valued at about $206,000. Finally, Great Lakes Advisors LLC bought a new position in Edison International in the 2nd quarter valued at about $207,000. 80.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Edison International (EIX) traded down $0.09 during mid-day trading on Friday, reaching $81.75. The company’s stock had a trading volume of 1,384,300 shares, compared to its average volume of 1,688,709. Edison International has a one year low of $67.73 and a one year high of $83.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51. The firm has a market capitalization of $26,664.39, a P/E ratio of 18.64, a PEG ratio of 2.98 and a beta of 0.24.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. sell-side analysts expect that Edison International will post 4.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were paid a $0.5425 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.17 annualized dividend and a dividend yield of 2.65%. Edison International’s payout ratio is 48.98%.
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EIX has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. BidaskClub upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Bank of America Corporation restated a “buy” rating and set a $86.00 price objective on shares of Edison International in a research report on Tuesday, October 24th. Royal Bank Of Canada restated a “buy” rating and set a $84.00 price objective on shares of Edison International in a research report on Sunday, September 17th. Finally, Jefferies Group LLC restated a “hold” rating and set a $85.00 price objective on shares of Edison International in a research report on Sunday, July 30th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $85.08.
Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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