TIAA Trust National Association Grows Position in Edison International (NYSE:EIX)

TIAA Trust National Association raised its position in shares of Edison International (NYSE:EIX) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,723 shares of the utilities provider’s stock after buying an additional 134 shares during the quarter. TIAA Trust National Association’s holdings in Edison International were worth $483,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Elevated Capital Advisors LLC purchased a new position in Edison International during the 2nd quarter valued at approximately $780,000. Equitable Trust Co. boosted its holdings in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 132 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Edison International by 9.9% in the 2nd quarter. Van ECK Associates Corp now owns 134,010 shares of the utilities provider’s stock worth $9,624,000 after purchasing an additional 12,071 shares during the period. Banque Cantonale Vaudoise boosted its holdings in shares of Edison International by 123.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 10,532 shares of the utilities provider’s stock worth $757,000 after purchasing an additional 5,812 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Edison International in the 2nd quarter worth approximately $901,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on EIX shares. Mizuho lifted their target price on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Evercore ISI lifted their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Barclays lifted their target price on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. 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 stock. According to MarketBeat, Edison International presently has an average rating of “Hold” and a consensus target price of $82.36.

Edison International Trading Down 0.1 %

Shares of NYSE EIX opened at $87.64 on Friday. 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 business has a fifty day simple moving average of $79.44 and a two-hundred day simple moving average of $74.09. The firm has a market cap of $33.84 billion, a PE ratio of 38.44 and a beta of 0.91. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results 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 business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction on Friday, July 26th. The stock was 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 directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction on Friday, July 26th. The stock was 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 directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 in the last ninety days. Corporate 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.