Edison International (NYSE:EIX) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB lifted its stake in Edison International (NYSE:EIX) by 69.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 162,753 shares of the utilities provider’s stock after purchasing an additional 66,629 shares during the quarter. AMF Tjanstepension AB’s holdings in Edison International were worth $11,542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ausbil Investment Management Ltd increased its holdings in shares of Edison International by 4.8% in the first quarter. Ausbil Investment Management Ltd now owns 141,644 shares of the utilities provider’s stock valued at $9,977,000 after purchasing an additional 6,545 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Edison International by 12.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,508 shares of the utilities provider’s stock valued at $1,592,000 after purchasing an additional 2,431 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Edison International by 3,503.3% in the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after purchasing an additional 131,585 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Edison International by 7.6% in the first quarter. Sound Income Strategies LLC now owns 143,581 shares of the utilities provider’s stock valued at $10,156,000 after purchasing an additional 10,105 shares during the last quarter. Finally, Kwmg LLC increased its holdings in shares of Edison International by 2.6% in the first quarter. Kwmg LLC now owns 79,903 shares of the utilities provider’s stock valued at $5,652,000 after purchasing an additional 2,062 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on EIX shares. Barclays increased their price target on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Mizuho raised their target price on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Morgan Stanley cut their target price on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Finally, The Goldman Sachs Group started coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus target price of $77.40.

Edison International Stock Down 0.3 %

Shares of NYSE EIX opened at $71.81 on Friday. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 31.50 and a beta of 0.95. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The business has a 50-day moving average of $73.45 and a two-hundred day moving average of $70.45. Edison International has a 1 year low of $58.82 and a 1 year high of $77.04.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the business earned $1.09 EPS. Edison International’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts forecast that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 58,099 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,474,696.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 58,099 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,474,696.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. Insiders have sold 77,897 shares of company stock worth $5,851,245 in the last quarter. Company insiders own 1.03% of the company’s stock.

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.