Choreo LLC Takes $402,000 Position in Edison International (NYSE:EIX)

Choreo LLC bought a new position in shares of Edison International (NYSE:EIX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,646 shares of the utilities provider’s stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EIX. Janney Montgomery Scott LLC lifted its position in shares of Edison International by 7.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 114,115 shares of the utilities provider’s stock valued at $8,158,000 after acquiring an additional 7,919 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Edison International by 9.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,316 shares of the utilities provider’s stock worth $237,000 after buying an additional 297 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Edison International in the fourth quarter valued at about $277,000. Kentucky Retirement Systems lifted its stake in shares of Edison International by 4.5% in the fourth quarter. Kentucky Retirement Systems now owns 30,667 shares of the utilities provider’s stock worth $2,192,000 after buying an additional 1,317 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position 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 acquiring an additional 551 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Argus raised their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company upped their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $94.00 target price on shares of Edison International in a research note on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and an average price target of $85.83.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 28,995 shares of Edison International 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 transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s 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 transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 in the last quarter. 1.03% of the stock is owned by company insiders.

Edison International Price Performance

EIX stock opened at $86.25 on Tuesday. The business’s fifty day moving average price is $81.36 and its 200 day moving average price is $75.07. Edison International has a 12-month low of $58.82 and a 12-month high of $88.77. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $33.18 billion, a PE ratio of 37.83 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its quarterly earnings results 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. The business had revenue of $4.34 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. On average, sell-side analysts anticipate that Edison International will post 4.96 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 3.62%. Edison International’s payout ratio is 136.84%.

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.