8,619 Shares in Edison International (NYSE:EIX) Bought by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC bought a new position in Edison International (NYSE:EIX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,619 shares of the utilities provider’s stock, valued at approximately $597,000.

Several other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its position in Edison International by 23.0% in 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 purchasing an additional 3,734,550 shares during the last quarter. Wellington Management Group LLP grew its position in Edison International by 4.4% in 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 during the last quarter. Clearbridge Investments LLC grew its position in Edison International by 8.9% in the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock worth $432,318,000 after purchasing an additional 558,351 shares during the last quarter. Legal & General Group Plc grew its position in Edison International by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 5,590,765 shares of the utilities provider’s stock worth $353,840,000 after purchasing an additional 108,138 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Edison International by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock worth $376,166,000 after purchasing an additional 202,541 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders have sold a total of 77,897 shares of company stock worth $5,851,245 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EIX shares. Argus raised their price target on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. The Goldman Sachs Group initiated coverage on shares of Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. Mizuho lifted their target price on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Royal Bank of Canada decreased their target price on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Finally, Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $86.00 in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.70.

Edison International Price Performance

NYSE:EIX opened at $71.39 on Wednesday. The firm has a market cap of $27.47 billion, a PE ratio of 31.31 and a beta of 0.95. Edison International has a 12 month low of $58.82 and a 12 month high of $77.04. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The company’s 50-day moving average price is $72.89 and its two-hundred day moving average price is $70.23.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. On average, equities analysts anticipate that Edison International will post 4.92 EPS for the current fiscal year.

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.