TIAA Trust National Association Grows Stake in Edison International (NYSE:EIX)

TIAA Trust National Association raised its stake in Edison International (NYSE:EIX) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,723 shares of the utilities provider’s stock after acquiring an additional 134 shares during the period. TIAA Trust National Association’s holdings in Edison International were worth $483,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors boosted its position in shares of Edison International by 23.0% during the fourth quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after buying an additional 3,734,550 shares during the last quarter. Norges Bank purchased a new stake in shares of Edison International during the fourth quarter valued at $210,327,000. M&G Plc purchased a new stake in shares of Edison International during the first quarter valued at $85,436,000. Capital International Investors boosted its position in shares of Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares during the last quarter. Finally, Morningstar Investment Services LLC boosted its position in shares of Edison International by 98.1% during the fourth quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after buying an additional 667,273 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EIX has been the topic of several recent analyst reports. Argus increased their price objective on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Guggenheim increased their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Mizuho increased their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Wells Fargo & Company increased their target price on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Morgan Stanley increased their target price on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International has a consensus rating of “Hold” and an average target price of $82.36.

Edison International Stock Down 0.1 %

NYSE EIX opened at $87.64 on Friday. The stock’s 50-day moving average price is $79.44 and its 200-day moving average price is $74.09. 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 has a 52 week low of $58.82 and a 52 week high of $88.77. The company has a market capitalization of $33.84 billion, a P/E ratio of 38.44 and a beta of 0.91.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate 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 last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Activity at Edison International

In related news, 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 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 approximately $1,541,933.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 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 approximately $1,541,933.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred 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 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. In the last 90 days, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by company insiders.

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.