Envestnet Asset Management Inc. Buys 4,726 Shares of Edison International (NYSE:EIX)

Envestnet Asset Management Inc. grew its stake in Edison International (NYSE:EIX) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486,400 shares of the utilities provider’s stock after acquiring an additional 4,726 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Edison International worth $34,928,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its stake in Edison International by 15.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,485 shares of the utilities provider’s stock worth $753,000 after purchasing an additional 1,388 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Edison International by 87.9% in the 2nd quarter. Federated Hermes Inc. now owns 3,326 shares of the utilities provider’s stock worth $239,000 after buying an additional 1,556 shares during the period. Pinkerton Retirement Specialists LLC grew its position in shares of Edison International by 6.7% during the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 59,322 shares of the utilities provider’s stock worth $4,260,000 after buying an additional 3,740 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Edison International by 33.3% during the second quarter. Meeder Advisory Services Inc. now owns 5,994 shares of the utilities provider’s stock valued at $430,000 after buying an additional 1,498 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Edison International by 1.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 74,918 shares of the utilities provider’s stock valued at $5,319,000 after acquiring an additional 1,322 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EIX has been the topic of several recent research reports. 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. Barclays increased their price objective 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. Morgan Stanley boosted their price objective on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Finally, Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $85.83.

Edison International Trading Up 1.5 %

Edison International stock 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. The stock 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 stock has a 50-day moving average of $82.32 and a two-hundred day moving average of $75.47. Edison International has a one year low of $58.82 and a one year high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion during 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%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. On average, research analysts anticipate that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Dividend Announcement

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

Insider Activity at Edison International

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 transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 in the last ninety days. Company insiders own 1.03% of the company’s stock.

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.