Ensign Peak Advisors Inc Raises Position in Edison International (NYSE:EIX)

Ensign Peak Advisors Inc lifted its holdings in Edison International (NYSE:EIX) by 11.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,059 shares of the utilities provider’s stock after purchasing an additional 27,595 shares during the quarter. Ensign Peak Advisors Inc owned about 0.07% of Edison International worth $19,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new stake in shares of Edison International during the first quarter worth about $230,000. Swedbank AB raised its holdings in shares of Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after buying an additional 193,307 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Edison International by 3,503.3% during the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after buying an additional 131,585 shares during the period. Intech Investment Management LLC grew its holdings in shares of Edison International by 44.9% during the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock valued at $3,272,000 after buying an additional 14,346 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Edison International in the 4th quarter valued at $743,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The shares were 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 $507,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. 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 ninety days. Insiders own 1.03% of the company’s stock.

Edison International Price Performance

Shares of Edison International stock opened at $86.08 on Tuesday. The stock has a market capitalization of $33.12 billion, a P/E ratio of 37.75, a PEG ratio of 1.99 and a beta of 0.91. The business has a 50 day simple moving average of $82.58 and a two-hundred day simple moving average of $75.70. Edison International has a 12 month low of $58.82 and a 12 month high of $88.77. 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 announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion for 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 in the previous year, the company posted $1.01 EPS. As a group, analysts predict that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The firm 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 yield of 3.62%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is 136.84%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research reports. Guggenheim lifted their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 target price on shares of Edison International in a research report on Monday, September 16th. Barclays upped their price objective on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Bank of America initiated coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Finally, Argus boosted their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.83.

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.