State of Alaska Department of Revenue Has $4.40 Million Position in Edison International (NYSE:EIX)

State of Alaska Department of Revenue lowered its holdings in shares of Edison International (NYSE:EIX) by 9.9% during the first quarter, Holdings Channel reports. The institutional investor owned 62,203 shares of the utilities provider’s stock after selling 6,845 shares during the quarter. State of Alaska Department of Revenue’s holdings in Edison International were worth $4,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Able Wealth Management LLC acquired a new stake in Edison International during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in Edison International during the fourth quarter worth $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International during the first quarter worth $28,000. WASHINGTON TRUST Co boosted its stake in Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares in the last quarter. Finally, Northwest Financial Advisors bought a new position in shares of Edison International during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EIX. Royal Bank of Canada cut their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Barclays lifted their price objective on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. The Goldman Sachs Group began coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective for the company. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $86.00 in a report on Tuesday, May 14th. Finally, Mizuho lifted their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.40.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 9,794 shares of Edison International stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,475,876.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders sold a total of 77,897 shares of company stock worth $5,851,245 over the last three months. 1.20% of the stock is currently owned by company insiders.

Edison International Stock Performance

Edison International stock opened at $71.82 on Friday. The stock has a 50-day simple moving average of $73.50 and a 200 day simple moving average of $70.49. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04. The stock has a market capitalization of $27.63 billion, a price-to-earnings ratio of 31.50 and a beta of 0.91.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 4.34%. Edison International’s payout ratio is 136.84%.

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.