Dimensional Fund Advisors LP Acquires 218,762 Shares of Edison International (NYSE:EIX)

Dimensional Fund Advisors LP raised its holdings in Edison International (NYSE:EIX) by 15.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,635,880 shares of the utilities provider’s stock after buying an additional 218,762 shares during the quarter. Dimensional Fund Advisors LP owned 0.43% of Edison International worth $117,476,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Able Wealth Management LLC bought a new position in Edison International during the fourth quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International during the 2nd quarter worth about $27,000. Global Trust Asset Management LLC bought a new position in shares of Edison International during the 1st quarter worth about $28,000. Country Trust Bank acquired a new position in shares of Edison International during the second quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the period. 88.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on EIX. Evercore ISI upped their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Argus upped their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. 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. Wells Fargo & Company boosted their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Barclays raised their price objective on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. One research 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’s stock. According to data from MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus target price of $85.83.

Edison International Stock Performance

NYSE:EIX opened at $85.43 on Monday. The stock has a market capitalization of $32.87 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The firm has a 50 day moving average of $82.32 and a 200-day moving average of $75.58.

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

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.78 dividend. 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 is presently 136.84%.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of the company’s 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 transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,099 shares of company stock worth $7,223,342. Corporate insiders own 1.03% of the company’s stock.

Edison International Company 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.