Edison International (NYSE:EIX) Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its stake in shares of Edison International (NYSE:EIXFree Report) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 728,456 shares of the utilities provider’s stock after selling 44,865 shares during the period. First Trust Advisors LP owned approximately 0.19% of Edison International worth $52,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ausbil Investment Management Ltd lifted its stake in shares of Edison International by 54.7% during the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock worth $9,658,000 after buying an additional 47,784 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Edison International by 4.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock valued at $976,000 after purchasing an additional 551 shares during the period. Jump Financial LLC acquired a new position in Edison International during the fourth quarter valued at $1,215,000. Avantax Advisory Services Inc. lifted its position in Edison International by 73.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock valued at $1,509,000 after purchasing an additional 8,922 shares during the period. Finally, Principal Securities Inc. acquired a new position in Edison International during the fourth quarter valued at $1,233,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Down 0.7 %

EIX stock opened at $73.96 on Friday. The stock has a market capitalization of $28.46 billion, a P/E ratio of 32.44 and a beta of 0.95. The firm has a 50-day simple moving average of $72.53 and a 200-day simple moving average of $69.85. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $58.82 and a 52 week high of $77.04.

Edison International (NYSE:EIXGet Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. Equities analysts forecast that Edison International will post 4.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EIX shares. Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $86.00 in a research report on Tuesday, May 14th. Morgan Stanley boosted their target price on shares of Edison International from $58.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Barclays boosted their target price on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Mizuho boosted 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. Finally, The Goldman Sachs Group assumed coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Edison International presently has a consensus rating of “Hold” and an average price target of $77.22.

Read Our Latest Report on EIX

Insider Transactions at Edison International

In related news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $75.07, for a total transaction of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. Insiders sold 77,897 shares of company stock valued at $5,851,245 over the last 90 days. Corporate insiders own 1.03% of the company’s stock.

Edison International Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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