Norden Group LLC Invests $369,000 in Edison International (NYSE:EIX)

Norden Group LLC purchased a new position in Edison International (NYSE:EIXFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,214 shares of the utilities provider’s stock, valued at approximately $369,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ausbil Investment Management Ltd grew its stake in shares of Edison International by 54.7% in the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock worth $9,658,000 after purchasing an additional 47,784 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake 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 buying an additional 551 shares in the last quarter. Jump Financial LLC bought a new position in Edison International during the fourth quarter valued at about $1,215,000. Avantax Advisory Services Inc. boosted its stake 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 buying an additional 8,922 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Edison International during the fourth quarter valued at about $1,233,000. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.1 %

Shares of Edison International stock opened at $71.57 on Tuesday. The stock has a 50-day moving average price of $73.56 and a 200 day moving average price of $70.55. The company has a market cap of $27.54 billion, a P/E ratio of 31.39 and a beta of 0.91. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. Edison International has a 1 year low of $58.82 and a 1 year high of $77.04.

Edison International (NYSE:EIXGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the business earned $1.09 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, 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 will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EIX shares. Mizuho raised their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Barclays raised their target price on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Morgan Stanley decreased their price target on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. Wells Fargo & Company upgraded Edison International from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $72.00 to $86.00 in a research report on Tuesday, May 14th. Finally, The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Edison International currently has an average rating of “Hold” and an average target price of $77.40.

View Our Latest Stock Analysis on Edison International

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares in the company, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. Insiders sold 77,897 shares of company stock valued at $5,851,245 in the last three months. Corporate insiders own 1.20% of the company’s stock.

Edison International Company 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.

See Also

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

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