Edison International (NYSE:EIX) Stake Lifted by Wedbush Securities Inc.

Wedbush Securities Inc. increased its stake in Edison International (NYSE:EIX) by 31.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,335 shares of the utilities provider’s stock after acquiring an additional 2,230 shares during the period. Wedbush Securities Inc.’s holdings in Edison International were worth $670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Equitable Trust Co. boosted its holdings in Edison International by 0.9% during the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares in the last quarter. TIAA Trust National Association boosted its holdings in Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after buying an additional 134 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Asset Dedication LLC boosted its holdings in Edison International by 37.5% during the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after buying an additional 150 shares in the last quarter. Finally, Carson Advisory Inc. boosted its holdings in Edison International by 0.3% during the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock worth $3,864,000 after buying an additional 152 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction 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 filing with the SEC, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,099 shares of company stock worth $7,223,342. Insiders own 1.03% of the company’s stock.

Edison International Stock Performance

Shares of Edison International stock opened at $84.24 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The firm has a market cap of $32.53 billion, a P/E ratio of 36.95 and a beta of 0.91. The firm has a 50 day simple moving average of $80.55 and a 200 day simple moving average of $74.64. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly 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 net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share. 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 announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s payout ratio is 136.84%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research reports. Guggenheim raised their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley lifted their price objective on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Finally, Barclays lifted their price objective on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.73.

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.