Nisa Investment Advisors LLC Sells 4,400 Shares of Edison International (NYSE:EIX)

Nisa Investment Advisors LLC lowered its position in shares of Edison International (NYSE:EIX) by 12.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,882 shares of the utilities provider’s stock after selling 4,400 shares during the period. Nisa Investment Advisors LLC’s holdings in Edison International were worth $2,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. M&G Plc bought a new stake in shares of Edison International during the first quarter worth about $85,436,000. Capital International Investors increased its position in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after acquiring an additional 795,950 shares during the period. Capital Research Global Investors raised its stake in shares of Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after acquiring an additional 345,189 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Edison International by 2.3% during the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after purchasing an additional 305,459 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Edison International by 595.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after purchasing an additional 272,876 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

EIX stock opened at $81.13 on Friday. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77. The stock has a market capitalization of $31.41 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The company’s 50-day moving average is $85.39 and its 200-day moving average is $78.73. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.96.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.85%. Edison International’s payout ratio is 91.50%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EIX. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley increased their target price on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Barclays boosted their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Argus increased their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.03% of the company’s stock.

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.