Illinois Municipal Retirement Fund Trims Stock Holdings in Edison International $EIX

Illinois Municipal Retirement Fund lowered its stake in shares of Edison International (NYSE:EIX) by 15.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,268 shares of the utilities provider’s stock after selling 22,529 shares during the period. Illinois Municipal Retirement Fund’s holdings in Edison International were worth $6,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Edison International by 169.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,843 shares of the utilities provider’s stock worth $6,901,000 after acquiring an additional 78,531 shares during the period. Versor Investments LP lifted its stake in shares of Edison International by 55.0% during the 3rd quarter. Versor Investments LP now owns 51,830 shares of the utilities provider’s stock worth $2,865,000 after purchasing an additional 18,381 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Edison International by 1.7% during the third quarter. Nordea Investment Management AB now owns 1,695,550 shares of the utilities provider’s stock worth $92,984,000 after purchasing an additional 28,586 shares during the last quarter. Convergence Investment Partners LLC grew its position in shares of Edison International by 67.6% in the third quarter. Convergence Investment Partners LLC now owns 27,017 shares of the utilities provider’s stock valued at $1,494,000 after purchasing an additional 10,901 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Edison International in the second quarter valued at $456,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 3.4%

NYSE EIX opened at $71.43 on Friday. The firm has a market capitalization of $27.48 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.01 and a beta of 0.82. 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 one year low of $47.73 and a one year 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.

Edison International Increases Dividend

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

Analyst Upgrades and Downgrades

EIX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Zacks Research lowered shares of Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Wells Fargo & Company downgraded shares of Edison International from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $56.00 to $59.00 in a report on Tuesday, January 20th. LADENBURG THALM/SH SH increased their price target on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.10.

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.