WFA Asset Management Corp Acquires Shares of 929 Edison International (NYSE:EIX)

WFA Asset Management Corp acquired a new stake in Edison International (NYSE:EIX) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 929 shares of the utilities provider’s stock, valued at approximately $66,000.

Several other institutional investors have also recently bought and sold shares of EIX. Ausbil Investment Management Ltd increased its stake in shares of Edison International by 54.7% in the 4th quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock valued at $9,658,000 after buying an additional 47,784 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Edison International by 4.2% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock valued at $976,000 after buying an additional 551 shares during the period. Jump Financial LLC acquired a new stake in shares of Edison International in the 4th quarter valued at $1,215,000. Avantax Advisory Services Inc. grew its stake in shares of Edison International by 73.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock worth $1,509,000 after purchasing an additional 8,922 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of Edison International during the fourth quarter worth $1,233,000. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of Edison International stock traded up $0.49 on Wednesday, hitting $72.12. The stock had a trading volume of 448,123 shares, compared to its average volume of 2,044,825. Edison International has a twelve month low of $58.82 and a twelve month high of $77.04. The business’s 50 day moving average is $73.48 and its two-hundred day moving average is $70.48. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The stock has a market cap of $27.75 billion, a price-to-earnings ratio of 31.67 and a beta of 0.91.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts forecast that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

Insider Buying and Selling

In related news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. Insiders have sold 77,897 shares of company stock valued at $5,851,245 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EIX shares. Royal Bank of Canada decreased their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Morgan Stanley decreased their price objective on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $86.00 in a research note on Tuesday, May 14th. Argus boosted their target price on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, The Goldman Sachs Group assumed coverage on Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.40.

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.