Edison International (NYSE:EIX) Position Decreased by AE Wealth Management LLC

AE Wealth Management LLC reduced its holdings in Edison International (NYSE:EIX) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,971 shares of the utilities provider’s stock after selling 1,649 shares during the quarter. AE Wealth Management LLC’s holdings in Edison International were worth $12,924,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EIX. Equitable Trust Co. boosted its stake in shares of Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 132 shares in the last quarter. TIAA Trust National Association boosted its position in shares of Edison International by 2.0% in the 2nd 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. increased its stake in Edison International by 53.8% in the 2nd 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 raised its holdings in Edison International by 37.5% during the 2nd quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after buying an additional 150 shares during the period. Finally, Carson Advisory Inc. lifted its stake in Edison International by 0.3% during the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after buying an additional 152 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EIX shares. Evercore ISI boosted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Barclays boosted their target price on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Guggenheim raised their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and set a $94.00 price target on shares of Edison International in a research report on Monday, September 16th. Finally, Morgan Stanley raised their price objective on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and an average price target of $85.83.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’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 transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock valued at $7,223,342 over the last three months. 1.03% of the stock is currently owned by insiders.

Edison International Stock Up 1.5 %

EIX opened at $85.43 on Friday. The company has a market capitalization of $32.99 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $88.77. The business has a 50-day moving average of $82.32 and a 200-day moving average of $75.47.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 earnings per share. Equities research analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

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.