RiverFront Investment Group LLC Boosts Stock Position in Edison International (NYSE:EIX)

RiverFront Investment Group LLC lifted its stake in Edison International (NYSE:EIX) by 24.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,786 shares of the utilities provider’s stock after purchasing an additional 1,133 shares during the quarter. RiverFront Investment Group LLC’s holdings in Edison International were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EIX. Able Wealth Management LLC acquired a new stake in shares of Edison International in the 4th quarter worth $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International during the second quarter worth about $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International during the first quarter worth about $28,000. Country Trust Bank purchased a new position in Edison International during the second quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Royal Bank of Canada reissued an “outperform” rating and set a $94.00 target price on shares of Edison International in a research note on Monday, September 16th. Morgan Stanley lifted their target price on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Barclays increased their price target on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, UBS Group boosted their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus price target of $86.17.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock valued at $7,223,342 in the last three months. 1.03% of the stock is owned by corporate insiders.

Edison International Stock Performance

NYSE EIX opened at $87.73 on Wednesday. The company has a market cap of $33.88 billion, a P/E ratio of 38.48, a P/E/G 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 company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The stock has a 50-day moving average of $83.97 and a two-hundred day moving average of $76.43.

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

Edison International Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

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.