Edison International (NYSE:EIX) Shares Purchased by ProVise Management Group LLC

ProVise Management Group LLC increased its stake in Edison International (NYSE:EIX) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,565 shares of the utilities provider’s stock after purchasing an additional 610 shares during the period. ProVise Management Group LLC’s holdings in Edison International were worth $4,995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Equitable Trust Co. increased its holdings in shares of Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares during the period. TIAA Trust National Association boosted its position in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares during the last quarter. Farmers & Merchants Investments Inc. increased its holdings in Edison International by 53.8% in the 2nd 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. Asset Dedication LLC raised its position in Edison International by 37.5% during the 2nd quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after buying an additional 150 shares during the last quarter. Finally, Carson Advisory Inc. lifted its stake in Edison International by 0.3% during the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 1.3 %

Shares of EIX opened at $84.19 on Friday. The firm has a market cap of $32.51 billion, a P/E ratio of 36.93, a PEG ratio of 1.99 and a beta of 0.91. Edison International has a 12 month low of $58.82 and a 12 month high of $88.77. The stock’s 50 day moving average is $82.10 and its two-hundred day moving average is $75.34. 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 (NYSE:EIX) last released 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 analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts predict that Edison International will post 4.97 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. Stockholders of record on Monday, July 8th were given a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.71%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Activity

In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s 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 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. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 over the last quarter. 1.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EIX has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $94.00 price target on shares of Edison International in a report on Monday. Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays boosted their price objective on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Finally, UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $85.83.

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.