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

Kentucky Retirement Systems decreased its holdings in Edison International (NYSE:EIX) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,538 shares of the utilities provider’s stock after selling 365 shares during the quarter. Kentucky Retirement Systems’ holdings in Edison International were worth $2,119,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Lake Street Advisors Group LLC grew its stake in shares of Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC grew its stake in shares of Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares during the last quarter. SFE Investment Counsel grew its stake in shares of Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares during the last quarter. Assetmark Inc. grew its stake in shares of Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 157 shares during the last quarter. Finally, Centennial Wealth Advisory LLC grew its stake in shares of Edison International by 3.3% in the third quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock worth $468,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX opened at $52.10 on Friday. The firm’s 50-day moving average price is $64.07 and its 200-day moving average price is $77.52. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The firm has a market capitalization of $20.17 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.07 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date of this dividend was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is currently 97.07%.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research report on Wednesday, January 15th. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Barclays cut their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley cut their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

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.