Edison International (NYSE:EIX) Shares Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC increased its stake in shares of Edison International (NYSE:EIX) by 9.5% during the 2nd quarter, Holdings Channel reports. The fund owned 10,851 shares of the utilities provider’s stock after purchasing an additional 937 shares during the quarter. EP Wealth Advisors LLC’s holdings in Edison International were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EIX shares. Morgan Stanley lifted their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Evercore ISI boosted their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Barclays increased their target price on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. UBS Group increased their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. One 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.17.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is currently owned by insiders.

Edison International Stock Down 0.3 %

Shares of EIX opened at $87.48 on Thursday. Edison International has a 52-week low of $58.82 and a 52-week high of $88.77. The company has a market capitalization of $33.78 billion, a PE ratio of 38.37, a price-to-earnings-growth ratio of 2.01 and a beta of 0.91. The stock has a fifty day simple moving average of $84.20 and a two-hundred day simple moving average of $76.51. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion during 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% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. As a group, equities analysts forecast that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is 136.84%.

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.