DNB Asset Management AS Boosts Stake in Edison International (NYSE:EIX)

DNB Asset Management AS boosted its stake in Edison International (NYSE:EIX) by 6.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 87,116 shares of the utilities provider’s stock after acquiring an additional 5,033 shares during the period. DNB Asset Management AS’s holdings in Edison International were worth $6,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Moody National Bank Trust Division lifted its stake in Edison International by 3.8% in the 2nd quarter. Moody National Bank Trust Division now owns 10,970 shares of the utilities provider’s stock valued at $788,000 after buying an additional 397 shares in the last quarter. GAMMA Investing LLC raised its holdings in Edison International by 108.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,143 shares of the utilities provider’s stock valued at $154,000 after acquiring an additional 1,117 shares during the last quarter. Old Port Advisors raised its holdings in Edison International by 18.5% in the 1st quarter. Old Port Advisors now owns 17,868 shares of the utilities provider’s stock valued at $1,264,000 after acquiring an additional 2,794 shares during the last quarter. Jackson Wealth Management LLC raised its holdings in Edison International by 29.3% in the 1st quarter. Jackson Wealth Management LLC now owns 19,234 shares of the utilities provider’s stock valued at $1,360,000 after acquiring an additional 4,361 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Edison International by 1.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 73,596 shares of the utilities provider’s stock valued at $5,067,000 after acquiring an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 1.2 %

NYSE:EIX traded up $0.98 during mid-day trading on Tuesday, hitting $81.53. The company had a trading volume of 2,137,278 shares, compared to its average volume of 2,034,599. The business has a fifty day simple moving average of $74.41 and a 200-day simple moving average of $71.27. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. Edison International has a 1 year low of $58.82 and a 1 year high of $83.05. The firm has a market capitalization of $31.37 billion, a price-to-earnings ratio of 35.75 and a beta of 0.91.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.83%. Edison International’s dividend payout ratio is presently 136.84%.

Insider Activity

In other news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,474,696.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction dated 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 completion of the transaction, the chief executive officer now 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 141,738 shares of company stock worth $10,916,903 over the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays boosted their price target on Edison International from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group began coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective for the company. UBS Group downgraded Edison International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $83.00 to $82.00 in a report on Friday, July 19th. Mizuho upped their price objective on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Edison International has an average rating of “Hold” and an average target price of $78.27.

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.