Edison International (NYSE:EIX) Shares Sold by M&G Plc

M&G Plc lowered its position in Edison International (NYSE:EIX) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,042,226 shares of the utilities provider’s stock after selling 161,097 shares during the quarter. M&G Plc owned about 0.27% of Edison International worth $75,040,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Able Wealth Management LLC acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $25,000. Global Trust Asset Management LLC acquired a new stake in shares of Edison International in the first quarter valued at approximately $28,000. Country Trust Bank acquired a new stake in shares of Edison International in the second quarter valued at approximately $29,000. Northwest Financial Advisors acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $40,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity at Edison International

In related news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,845 shares of company stock worth $5,823,662. 1.03% of the stock is owned by corporate insiders.

Edison International Price Performance

NYSE:EIX traded up $0.50 during trading hours on Tuesday, reaching $82.91. 2,365,839 shares of the company’s stock were exchanged, compared to its average volume of 2,034,102. The company has a market capitalization of $31.90 billion, a P/E ratio of 36.15 and a beta of 0.91. Edison International has a 12 month low of $58.82 and a 12 month high of $83.05. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The business’s 50-day simple moving average is $75.09 and its two-hundred day simple moving average is $71.80.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Sell-side analysts expect that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.76%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Wall Street Analysts Forecast Growth

EIX has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. Barclays increased their price objective on shares of Edison International from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Mizuho increased their price objective on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Argus increased their price objective on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, UBS Group cut shares of Edison International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $83.00 to $82.00 in a report on Friday, July 19th. One equities 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.com, the stock has a consensus rating of “Hold” and a consensus 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.