Edison International (NYSE:EIX) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of Edison International (NYSE:EIX) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,670 shares of the utilities provider’s stock after purchasing an additional 170 shares during the quarter. Arizona State Retirement System’s holdings in Edison International were worth $7,588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Securities Inc. acquired a new stake in shares of Edison International during the fourth quarter valued at about $1,233,000. Northwest Financial Advisors acquired a new stake in Edison International in the 4th quarter valued at approximately $40,000. Teacher Retirement System of Texas raised its position in Edison International by 118.8% in the fourth quarter. Teacher Retirement System of Texas now owns 133,472 shares of the utilities provider’s stock valued at $9,542,000 after purchasing an additional 72,460 shares during the period. BNP Paribas Financial Markets lifted its stake in Edison International by 48.3% during the fourth quarter. BNP Paribas Financial Markets now owns 573,371 shares of the utilities provider’s stock worth $40,990,000 after purchasing an additional 186,734 shares in the last quarter. Finally, Qsemble Capital Management LP boosted its position in shares of Edison International by 78.0% during the fourth quarter. Qsemble Capital Management LP now owns 11,389 shares of the utilities provider’s stock worth $814,000 after buying an additional 4,989 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $86.65 on Friday. The company has a market cap of $33.46 billion, a P/E ratio of 38.00 and a beta of 0.91. The firm has a fifty day moving average price of $79.74 and a 200 day moving average price of $74.28. The company has a current ratio of 1.03, a quick ratio of 0.96 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 $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the firm posted $1.01 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Edison International will post 4.96 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.60%. Edison International’s payout ratio is currently 136.84%.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EIX shares. Barclays increased their target price on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Argus raised their price objective on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Mizuho lifted their price objective on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Morgan Stanley increased their target price on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Finally, Guggenheim upped their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.36.

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.