1832 Asset Management L.P. Has $1.30 Million Position in Edison International (NYSE:EIX)

1832 Asset Management L.P. cut its position in Edison International (NYSE:EIX) by 28.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,138 shares of the utilities provider’s stock after selling 7,245 shares during the period. 1832 Asset Management L.P.’s holdings in Edison International were worth $1,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors raised its stake in Edison International by 23.0% during the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock worth $1,429,769,000 after buying an additional 3,734,550 shares during the period. M&G Plc acquired a new stake in shares of Edison International during the first quarter worth about $85,436,000. Capital International Investors lifted its holdings in shares of Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Morningstar Investment Services LLC grew its position in shares of Edison International by 98.1% in the 4th quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after purchasing an additional 667,273 shares during the period. Finally, Wellington Management Group LLP increased its stake in Edison International by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after purchasing an additional 433,845 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’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 value of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly 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 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 shares were 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,099 shares of company stock worth $7,223,342. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 price target on shares of Edison International in a report on Monday, September 16th. Guggenheim upped their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Argus boosted their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Evercore ISI increased their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and a consensus target price of $86.17.

Edison International Stock Up 0.9 %

EIX stock opened at $86.24 on Friday. The company has a market cap of $33.18 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 1.99 and a beta of 0.91. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77. The business has a 50 day moving average price of $83.02 and a two-hundred day moving average price of $75.88. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last issued its 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 business 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 revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. Analysts anticipate that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.62%. Edison International’s dividend payout ratio (DPR) is currently 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.