Kentucky Retirement Systems Sells 135 Shares of Edison International (NYSE:EIX)

Kentucky Retirement Systems lessened its stake in shares of Edison International (NYSE:EIX) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,994 shares of the utilities provider’s stock after selling 135 shares during the period. Kentucky Retirement Systems’ holdings in Edison International were worth $2,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. Gladstone Institutional Advisory LLC lifted its position in Edison International by 17.2% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,499 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 661 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Edison International by 2.0% during the 4th quarter. D.A. Davidson & CO. now owns 37,955 shares of the utilities provider’s stock worth $2,713,000 after acquiring an additional 726 shares during the period. Corient Private Wealth LLC boosted its position in shares of Edison International by 0.3% during the 4th quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock worth $4,379,000 after acquiring an additional 175 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in Edison International in the fourth quarter valued at approximately $433,000. Finally, US Bancorp DE raised its position in Edison International by 7.3% during the fourth quarter. US Bancorp DE now owns 70,061 shares of the utilities provider’s stock valued at $5,009,000 after purchasing an additional 4,740 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of research analyst reports. Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. UBS Group lifted 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. Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley lifted their price target on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $94.00 price objective on shares of Edison International in a research note on Monday, September 16th. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.83.

Edison International Price Performance

Shares of NYSE:EIX opened at $85.43 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77. The firm has a market cap 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 firm’s fifty day moving average is $82.32 and its 200-day moving average is $75.47.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for 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 business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. Sell-side analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

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

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, 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. In the last 90 days, insiders sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by insiders.

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.