MQS Management LLC Acquires Shares of 6,215 Edison International (NYSE:EIX)

MQS Management LLC acquired a new stake in Edison International (NYSE:EIX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,215 shares of the utilities provider’s stock, valued at approximately $446,000.

Other large investors have also made changes to their positions in the company. Capital Research Global Investors increased its stake in Edison International by 23.0% during the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock worth $1,429,769,000 after buying an additional 3,734,550 shares in the last quarter. Norges Bank purchased a new stake in shares of Edison International during the fourth quarter worth approximately $210,327,000. M&G Plc acquired a new position in Edison International in the 1st quarter valued at $85,436,000. Capital International Investors lifted its holdings in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Finally, Morningstar Investment Services LLC lifted its holdings in Edison International by 98.1% in the 4th quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after purchasing an additional 667,273 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Trading Down 1.3 %

Shares of EIX stock opened at $84.19 on Friday. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The firm has a market cap of $32.51 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a 50-day moving average of $82.10 and a two-hundred day moving average of $75.34. 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 (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $1.01 EPS. On average, analysts predict that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.71%. Edison International’s payout ratio is presently 136.84%.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,575,159.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’s 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 completion of the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 price objective on shares of Edison International in a report on Monday. Morgan Stanley boosted their target price on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Barclays upped their price target on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Finally, Argus lifted their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Edison International currently has an average rating of “Hold” and an average target price of $85.83.

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.