Toronto Dominion Bank Has $13.05 Million Stake in Edison International (NYSE:EIX)

Toronto Dominion Bank trimmed its holdings in Edison International (NYSE:EIX) by 34.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 184,467 shares of the utilities provider’s stock after selling 95,675 shares during the period. Toronto Dominion Bank’s holdings in Edison International were worth $13,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in EIX. Able Wealth Management LLC acquired a new stake in Edison International during the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC acquired a new stake in Edison International during the 1st quarter worth approximately $28,000. WASHINGTON TRUST Co lifted its holdings in Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. Northwest Financial Advisors acquired a new stake in Edison International during the 4th quarter worth approximately $40,000. Finally, GAMMA Investing LLC acquired a new stake in Edison International during the 4th quarter worth approximately $48,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,897 shares of company stock worth $5,851,245. Insiders own 1.03% of the company’s stock.

Edison International Price Performance

EIX stock traded up $2.08 during midday trading on Friday, reaching $78.51. 2,763,324 shares of the stock were exchanged, compared to its average volume of 2,015,903. The stock has a market capitalization of $30.21 billion, a PE ratio of 34.43 and a beta of 0.91. Edison International has a 52 week low of $58.82 and a 52 week high of $79.50. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The company has a fifty day moving average price of $73.81 and a 200 day moving average price of $70.88.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. Edison International’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, analysts expect that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.97%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EIX shares. Mizuho lifted their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Barclays lifted their price objective on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Morgan Stanley dropped their price objective on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday. Finally, UBS Group cut Edison International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $83.00 to $82.00 in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.82.

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.