Edison International (NYSE:EIX) CEO J Andrew Murphy Sells 1,362 Shares

Edison International (NYSE:EIX) CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

J Andrew Murphy also recently made the following trade(s):

• On Monday, August 26th, J Andrew Murphy sold 23,896 shares of Edison International stock. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20.
• On Wednesday, July 31st, J Andrew Murphy sold 32,505 shares of Edison International stock. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60.
• On Friday, July 26th, J Andrew Murphy sold 28,995 shares of Edison International stock. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85.

Edison International Trading Up 0.3 %

Shares of EIX opened at $85.01 on Thursday. The stock has a fifty day moving average price of $77.62 and a two-hundred day moving average price of $73.24. 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 has a 52-week low of $58.82 and a 52-week high of $85.96. The company has a market cap of $32.71 billion, a price-to-earnings ratio of 37.29 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (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 firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 3.67%. Edison International’s payout ratio is 136.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EIX. UBS Group lowered Edison International from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $83.00 to $82.00 in a report on Friday, July 19th. Morgan Stanley lifted their price objective on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays lifted their price objective on Edison International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company boosted their price target on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and an average target price of $80.73.

Hedge Funds Weigh In On Edison International

Several institutional investors have recently bought and sold shares of the business. RiverFront Investment Group LLC raised its position in Edison International by 24.3% in the 2nd quarter. RiverFront Investment Group LLC now owns 5,786 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 1,133 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after acquiring an additional 24,834 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Edison International by 0.5% during the second quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock worth $7,565,000 after acquiring an additional 540 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Edison International by 9.5% during the second quarter. EP Wealth Advisors LLC now owns 10,851 shares of the utilities provider’s stock worth $779,000 after acquiring an additional 937 shares during the last quarter. Finally, Quarry LP raised its position in shares of Edison International by 154.0% during the second quarter. Quarry LP now owns 37,371 shares of the utilities provider’s stock worth $2,684,000 after acquiring an additional 22,658 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

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.