Envestnet Asset Management Inc. Grows Position in Edison International (NYSE:EIX)

Envestnet Asset Management Inc. grew its position in shares of Edison International (NYSE:EIX) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 486,400 shares of the utilities provider’s stock after buying an additional 4,726 shares during the period. Envestnet Asset Management Inc.’s holdings in Edison International were worth $34,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in EIX. Oppenheimer Asset Management Inc. grew its position in Edison International by 15.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,485 shares of the utilities provider’s stock valued at $753,000 after buying an additional 1,388 shares during the period. Federated Hermes Inc. grew its position in shares of Edison International by 87.9% during the 2nd quarter. Federated Hermes Inc. now owns 3,326 shares of the utilities provider’s stock valued at $239,000 after acquiring an additional 1,556 shares during the period. Pinkerton Retirement Specialists LLC increased its stake in shares of Edison International by 6.7% in the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 59,322 shares of the utilities provider’s stock valued at $4,260,000 after purchasing an additional 3,740 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in Edison International by 33.3% in the 2nd quarter. Meeder Advisory Services Inc. now owns 5,994 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 1,498 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in Edison International by 1.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 74,918 shares of the utilities provider’s stock worth $5,319,000 after purchasing an additional 1,322 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EIX has been the subject of a number of recent analyst reports. Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Evercore ISI boosted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Barclays raised their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.83.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 28,995 shares of the 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 sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on 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 $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction 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 directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock valued at $7,223,342 over the last ninety days. Company insiders own 1.03% of the company’s stock.

Edison International Trading Up 1.5 %

Shares of Edison International stock opened at $85.43 on Friday. 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 stock’s 50 day simple moving average is $82.32 and its 200-day simple moving average is $75.47. The stock has a market cap of $32.99 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.99 and a beta of 0.91. Edison International has a 1-year low of $58.82 and a 1-year 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 for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.65%. The ex-dividend date was Monday, July 8th. Edison International’s payout ratio is currently 136.84%.

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.