Edison International (NYSE:EIX) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in shares of Edison International (NYSE:EIX) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,010 shares of the utilities provider’s stock after acquiring an additional 12,071 shares during the quarter. Van ECK Associates Corp’s holdings in Edison International were worth $9,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CreativeOne Wealth LLC acquired a new position in Edison International during the first quarter worth about $230,000. Kentucky Retirement Systems Insurance Trust Fund raised its stake in Edison International by 4.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock worth $976,000 after purchasing an additional 551 shares during the period. Jump Financial LLC purchased a new position in Edison International during the fourth quarter worth about $1,215,000. Avantax Advisory Services Inc. raised its stake in Edison International by 73.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock worth $1,509,000 after purchasing an additional 8,922 shares during the period. Finally, Swedbank AB raised its stake in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after purchasing an additional 193,307 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Up 0.6 %

Shares of EIX stock opened at $87.03 on Tuesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a market capitalization of $33.49 billion, a P/E ratio of 38.17 and a beta of 0.91. The company has a 50 day moving average price of $78.50 and a 200 day moving average price of $73.75. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $87.49.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share 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 analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities research analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction that occurred 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 transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,103 shares of company stock worth $7,981,345. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Edison International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their target price on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Mizuho lifted their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, UBS Group downgraded shares of Edison International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $83.00 to $82.00 in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $80.73.

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.