Edison International (NYSE:EIX) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in Edison International (NYSE:EIX) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 451,706 shares of the utilities provider’s stock after buying an additional 59,844 shares during the period. Mackenzie Financial Corp’s holdings in Edison International were worth $32,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EIX. Able Wealth Management LLC purchased a new stake in Edison International in the fourth quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International during the second quarter worth about $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Edison International in the 1st quarter valued at about $28,000. Country Trust Bank acquired a new stake in shares of Edison International in the 2nd quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. grew its stake in Edison International by 53.8% during 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 last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of EIX opened at $86.81 on Friday. 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 50 day moving average is $83.48 and its two-hundred day moving average is $76.12. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77. 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 (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. Research analysts anticipate that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be paid 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 dividend yield of 3.59%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Activity

In related news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The sale 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 on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock worth $7,223,342 in the last 90 days. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays boosted their price objective on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $94.00 price objective on shares of Edison International in a research report on Monday, September 16th. Wells Fargo & Company upped their target price on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Argus raised their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.17.

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.