Edison International (NYSE:EIX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its position in Edison International (NYSE:EIX) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,129 shares of the utilities provider’s stock after selling 1,538 shares during the period. Kentucky Retirement Systems’ holdings in Edison International were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley lowered their price objective on Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. The Goldman Sachs Group assumed coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays lifted their target price on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.82.

Edison International Stock Down 0.0 %

Shares of NYSE:EIX traded down $0.01 on Monday, hitting $78.50. 538,016 shares of the company’s stock were exchanged, compared to its average volume of 2,005,640. The firm’s 50-day moving average is $73.81 and its 200 day moving average is $70.85. The company has a market capitalization of $30.32 billion, a PE ratio of 34.17 and a beta of 0.91. Edison International has a 1-year low of $58.82 and a 1-year high of $79.50. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last released its quarterly earnings data 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 business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. Sell-side analysts predict that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

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

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other 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 completion of 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 SEC, which is accessible through this link. Also, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The disclosure for this sale can be found here. Insiders sold a total of 77,897 shares of company stock valued at $5,851,245 in the last ninety days. Insiders own 1.03% of the company’s stock.

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.