WFA Asset Management Corp Makes New Investment in Edison International (NYSE:EIX)

WFA Asset Management Corp bought a new stake in shares of Edison International (NYSE:EIX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 929 shares of the utilities provider’s stock, valued at approximately $66,000.

Several other institutional investors have also recently made changes to their positions in EIX. Capital Research Global Investors increased its holdings in shares of Edison International by 23.0% during the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after purchasing an additional 3,734,550 shares in the last quarter. Deutsche Bank AG increased its holdings in Edison International by 266.3% in the 3rd quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock worth $272,725,000 after acquiring an additional 3,132,877 shares in the last quarter. Norges Bank purchased a new stake in Edison International in the 4th quarter worth $210,327,000. Morningstar Investment Services LLC increased its holdings in Edison International by 98.1% in the 4th quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock worth $96,492,000 after acquiring an additional 667,273 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Edison International by 62.1% in the 4th quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock worth $108,236,000 after acquiring an additional 580,117 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Up 0.7 %

NYSE EIX traded up $0.49 during trading hours on Wednesday, reaching $72.12. The company had a trading volume of 448,123 shares, compared to its average volume of 2,044,825. The stock has a 50-day moving average of $73.48 and a 200 day moving average of $70.48. Edison International has a 1-year low of $58.82 and a 1-year high of $77.04. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $27.75 billion, a P/E ratio of 31.67 and a beta of 0.91.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The company had revenue of $4.08 billion for 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 revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. As a group, research analysts anticipate that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 4.33%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Mizuho boosted their price target on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Argus lifted their target price on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Barclays lifted their target price on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group began coverage on shares of Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. Finally, Wells Fargo & Company raised shares of Edison International from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $86.00 in a research note on Tuesday, May 14th. 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.40.

Insiders Place Their Bets

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the business’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 sale, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders have sold 77,897 shares of company stock worth $5,851,245 over the last three months. Company insiders own 1.20% of the company’s stock.

Edison International 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.