Duff & Phelps Investment Management Co. Has $35.49 Million Holdings in Edison International (NYSE:EIX)

Duff & Phelps Investment Management Co. raised its holdings in Edison International (NYSE:EIX) by 23.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 494,197 shares of the utilities provider’s stock after acquiring an additional 93,935 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Edison International were worth $35,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of EIX. Able Wealth Management LLC acquired a new stake in shares of Edison International during the fourth quarter worth about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International during the 2nd quarter worth approximately $27,000. Global Trust Asset Management LLC bought a new position in Edison International in the first quarter valued at approximately $28,000. Country Trust Bank bought a new position in Edison International in the second quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. lifted its stake in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Up 0.7 %

Edison International stock opened at $86.81 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 company’s 50-day moving average is $83.48 and its 200-day moving average is $76.12. The firm has a market capitalization of $33.52 billion, a PE ratio of 38.07, a P/E/G ratio of 1.99 and a beta of 0.91. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last announced 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. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.59%. Edison International’s dividend payout ratio (DPR) is 136.84%.

Insider Buying and Selling at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the 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 in the company, valued at $507,040. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. 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 ninety days. Insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their price target on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. 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. Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Guggenheim raised their price target 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $86.17.

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.