Choreo LLC Purchases New Holdings in Edison International (NYSE:EIX)

Choreo LLC bought a new position in Edison International (NYSE:EIX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,646 shares of the utilities provider’s stock, valued at approximately $402,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Equitable Trust Co. lifted its holdings in Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after buying an additional 132 shares in the last quarter. TIAA Trust National Association boosted its holdings in shares of Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 134 shares during the period. Farmers & Merchants Investments Inc. grew 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 worth $29,000 after purchasing an additional 140 shares in the last quarter. Asset Dedication LLC grew its stake in Edison International by 37.5% in the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 150 shares in the last quarter. Finally, Carson Advisory Inc. increased its holdings in Edison International by 0.3% during the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock worth $3,864,000 after purchasing an additional 152 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Up 1.0 %

EIX stock opened at $86.25 on Tuesday. The stock has a market capitalization of $33.18 billion, a PE ratio of 37.83 and a beta of 0.91. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The firm has a 50 day moving average of $81.36 and a 200 day moving average of $75.07.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Sell-side analysts forecast that Edison International will post 4.96 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. Edison International’s payout ratio is currently 136.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EIX shares. Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $94.00 target price on shares of Edison International in a report on Monday. UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Bank of America assumed coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Edison International has a consensus rating of “Hold” and an average target price of $85.83.

Insider Activity

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 completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,541,933.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 in the last quarter. 1.03% of the stock is currently 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.