Edison International (EIX) Position Raised by Teacher Retirement System of Texas
Teacher Retirement System of Texas grew its position in Edison International (NYSE:EIX) by 23.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 229,677 shares of the utilities provider’s stock after buying an additional 44,344 shares during the period. Teacher Retirement System of Texas’ holdings in Edison International were worth $14,525,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors acquired a new stake in shares of Edison International in the 3rd quarter valued at $95,783,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at $557,000. Magnetar Financial LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at $256,000. Wells Fargo & Company MN increased its stake in shares of Edison International by 30.3% in the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock valued at $198,553,000 after buying an additional 598,402 shares during the period. Finally, National Pension Service increased its stake in shares of Edison International by 4.2% in the 4th quarter. National Pension Service now owns 310,925 shares of the utilities provider’s stock valued at $19,663,000 after buying an additional 12,644 shares during the period. 79.43% of the stock is owned by institutional investors.
In other news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the transaction, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were given a $0.605 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Thursday, December 28th. Edison International’s dividend payout ratio (DPR) is currently 54.63%.
EIX has been the subject of several research reports. Edward Jones cut Edison International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Citigroup reissued a “hold” rating and issued a $66.00 target price on shares of Edison International in a research note on Monday, January 22nd. Royal Bank of Canada reissued a “buy” rating and issued a $74.00 target price on shares of Edison International in a research note on Friday, December 22nd. Morgan Stanley lowered their target price on Edison International from $96.00 to $82.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 13th. Finally, JPMorgan Chase & Co. initiated coverage on Edison International in a research note on Friday, January 12th. They issued a “neutral” rating and a $67.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $78.57.
About Edison International
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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