J Andrew Murphy Sells 58,099 Shares of Edison International (NYSE:EIX) Stock

Edison International (NYSE:EIX) CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Edison International Trading Down 0.6 %

Shares of EIX opened at $74.44 on Tuesday. The firm has a market cap of $28.64 billion, a P/E ratio of 32.65 and a beta of 0.95. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. Edison International has a 1 year low of $58.82 and a 1 year high of $75.34. The company has a 50 day simple moving average of $70.09 and a two-hundred day simple moving average of $68.34.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. The company 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%. Edison International’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $1.09 earnings per share. On average, equities analysts expect that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Wednesday, March 27th. Edison International’s payout ratio is presently 136.84%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EIX. Carson Advisory Inc. lifted its position in Edison International by 0.3% during the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after purchasing an additional 152 shares during the last quarter. Cohen Capital Management Inc. raised its position in shares of Edison International by 0.5% during the 1st quarter. Cohen Capital Management Inc. now owns 35,744 shares of the utilities provider’s stock valued at $2,528,000 after buying an additional 161 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Edison International by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,743 shares of the utilities provider’s stock valued at $1,043,000 after acquiring an additional 161 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Edison International by 2.5% in the third quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock worth $418,000 after acquiring an additional 162 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in Edison International by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 4,496 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 163 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent research reports. Royal Bank of Canada cut their target price on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. 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 price objective for the company. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. Mizuho cut their price target on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Finally, Barclays raised their price objective on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.78.

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.