Kentucky Retirement Systems Has $2.08 Million Position in Edison International (NYSE:EIX)

Kentucky Retirement Systems trimmed its stake in Edison International (NYSE:EIX) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,994 shares of the utilities provider’s stock after selling 135 shares during the quarter. Kentucky Retirement Systems’ holdings in Edison International were worth $2,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Able Wealth Management LLC bought a new stake in Edison International in the 4th quarter valued at about $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International during the second quarter valued at approximately $27,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International during the first quarter worth approximately $28,000. Country Trust Bank acquired a new position in shares of Edison International during the second quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of 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 purchasing an additional 140 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Up 1.5 %

EIX stock opened at $85.43 on Friday. 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. 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 stock’s fifty day simple moving average is $82.32 and its two-hundred day simple moving average is $75.47. Edison International has a 1-year low of $58.82 and a 1-year 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, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. Analysts expect that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

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

Insider Buying and Selling

In other Edison International news, 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 transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO J Andrew Murphy sold 23,896 shares of the business’s 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 sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following 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. In the last quarter, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on EIX shares. Evercore ISI boosted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Argus upped their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Guggenheim lifted their price target 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 stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $94.00 target price on shares of Edison International in a report on Monday, September 16th. 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, the stock has an average rating of “Hold” and an average target price of $85.83.

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.