Edison International (NYSE:EIX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in Edison International (NYSE:EIX) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,415 shares of the utilities provider’s stock after selling 879 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Edison International were worth $2,184,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EIX. Cetera Investment Advisers grew its stake in Edison International by 0.5% during the 2nd quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock worth $7,565,000 after buying an additional 540 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Edison International by 9.5% during the second quarter. EP Wealth Advisors LLC now owns 10,851 shares of the utilities provider’s stock worth $779,000 after acquiring an additional 937 shares during the last quarter. Quarry LP grew its position in shares of Edison International by 154.0% during the second quarter. Quarry LP now owns 37,371 shares of the utilities provider’s stock worth $2,684,000 after acquiring an additional 22,658 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Edison International by 8.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock valued at $727,000 after acquiring an additional 816 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in Edison International by 23.5% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 494,197 shares of the utilities provider’s stock valued at $35,488,000 after purchasing an additional 93,935 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Argus raised their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Royal Bank of Canada boosted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company lifted their target price on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, UBS Group upped their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One equities 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. According to MarketBeat.com, Edison International has an average rating of “Hold” and an average price target of $86.67.

Edison International Trading Down 0.5 %

NYSE:EIX opened at $86.18 on Friday. The stock has a market capitalization of $33.16 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 2.01 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The stock has a fifty day moving average price of $84.56 and a two-hundred day moving average price of $76.70. 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 (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion during 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%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. As a group, sell-side analysts anticipate that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio is currently 136.84%.

Insider Buying and Selling

In related news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 in the last quarter. Company insiders own 1.03% of the company’s stock.

Edison International 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.