Caprock Group LLC Lowers Position in Edison International (NYSE:EIX)

Caprock Group LLC cut its stake in Edison International (NYSE:EIX) by 13.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,830 shares of the utilities provider’s stock after selling 916 shares during the period. Caprock Group LLC’s holdings in Edison International were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. Able Wealth Management LLC purchased a new stake in Edison International in the fourth quarter worth about $25,000. Global Trust Asset Management LLC purchased a new stake in Edison International in the first quarter worth about $28,000. Country Trust Bank purchased a new stake in Edison International in the second quarter worth about $29,000. Farmers & Merchants Investments Inc. lifted its holdings in Edison International by 53.8% in 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 during the period. Finally, OFI Invest Asset Management purchased a new stake in Edison International in the second quarter worth about $32,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Guggenheim raised their target price on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Argus raised their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays raised their target price on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. UBS Group raised their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Mizuho raised their target price on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.67.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred 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 directly owns 6,338 shares of the company’s stock, 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 valued at $7,223,342. Company insiders own 1.03% of the company’s stock.

Edison International Price Performance

Shares of EIX opened at $84.60 on Friday. The company has a market capitalization of $32.67 billion, a P/E ratio of 37.11 and a beta of 0.91. 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 firm has a 50 day moving average of $80.80 and a 200 day moving average of $74.71. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Edison International will post 4.96 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Edison International Company 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.