Edison International (NYSE:EIX) CEO Sells $2,041,913.20 in Stock

Edison International (NYSE:EIX) CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, August 23rd, J Andrew Murphy sold 1,362 shares of Edison International stock. The shares were sold at an average price of $85.00, for a total value of $115,770.00.
• 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 transaction of $2,604,300.60.
• On Friday, July 26th, J Andrew Murphy sold 28,995 shares of Edison International stock. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85.

Edison International Stock Up 1.8 %

Shares of EIX opened at $86.50 on Friday. The stock has a 50 day moving average price of $77.62 and a 200 day moving average price of $73.24. Edison International has a one year low of $58.82 and a one year high of $87.14. 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 market capitalization of $33.28 billion, a price-to-earnings ratio of 37.94 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its earnings results 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 company had revenue of $4.34 billion for 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 EPS. Equities research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. Edison International’s payout ratio is 136.84%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted 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. Mizuho increased their price target on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, UBS Group lowered 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.73.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Able Wealth Management LLC acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International during the 2nd quarter worth $27,000. Global Trust Asset Management LLC purchased a new position in shares of Edison International during the 1st quarter worth $28,000. Country Trust Bank acquired a new stake in Edison International during the second quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. raised its stake in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.