Tredje AP fonden Cuts Position in Edison International (NYSE:EIX)

Tredje AP fonden reduced its stake in shares of Edison International (NYSE:EIX) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,742 shares of the utilities provider’s stock after selling 942 shares during the quarter. Tredje AP fonden’s holdings in Edison International were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Able Wealth Management LLC purchased a new stake in shares of Edison International during the 4th quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International during the second quarter worth $27,000. Global Trust Asset Management LLC purchased a new position in shares of Edison International in the first quarter valued at $28,000. Country Trust Bank acquired a new position in shares of Edison International during the 2nd quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $94.00 target price on shares of Edison International in a report on Monday. Morgan Stanley boosted their target price on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and an average target price of $85.83.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 over the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Edison International Stock Down 0.9 %

Shares of NYSE EIX opened at $85.29 on Thursday. The stock has a market capitalization of $32.82 billion, a PE ratio of 37.41 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The firm has a fifty day moving average of $81.91 and a 200-day moving average of $75.28. Edison International has a 52-week low of $58.82 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, analysts anticipate that Edison International will post 4.96 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 3.66%. Edison International’s payout ratio is 136.84%.

About Edison International

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.