DNB Asset Management AS Increases Holdings in Edison International (NYSE:EIX)

DNB Asset Management AS grew its holdings in shares of Edison International (NYSE:EIX) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of EIX. Able Wealth Management LLC bought a new position in Edison International in the 4th quarter worth $25,000. Global Trust Asset Management LLC purchased a new stake in Edison International in the 1st quarter worth $28,000. Northwest Financial Advisors purchased a new stake in Edison International in the 4th quarter worth $40,000. GAMMA Investing LLC purchased a new stake in Edison International in the 4th quarter worth $48,000. Finally, Mather Group LLC. purchased a new stake in Edison International in the 1st quarter worth $52,000. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Argus boosted their price target on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Barclays upped their target price on shares of Edison International from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. UBS Group cut shares of Edison International from a “buy” rating to a “neutral” rating and decreased their target price for the company from $83.00 to $82.00 in a research report on Friday, July 19th. Finally, Mizuho upped their target price on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.27.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available at this link. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 141,738 shares of company stock worth $10,916,903 over the last three months. Corporate insiders own 1.03% of the company’s stock.

Edison International Stock Up 1.2 %

EIX traded up $0.98 during trading on Tuesday, hitting $81.53. The stock had a trading volume of 2,137,278 shares, compared to its average volume of 2,034,599. The company has a market capitalization of $31.37 billion, a PE ratio of 35.75 and a beta of 0.91. Edison International has a twelve month low of $58.82 and a twelve month high of $83.05. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a 50 day simple moving average of $74.41 and a two-hundred day simple moving average of $71.27.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. On average, research analysts predict that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

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

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.