Edison International (NYSE:EIX) Shares Bought by PGGM Investments

PGGM Investments raised its position in Edison International (NYSE:EIX) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,821 shares of the utilities provider’s stock after buying an additional 340 shares during the quarter. PGGM Investments’ holdings in Edison International were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Able Wealth Management LLC acquired a new position in Edison International in the 4th quarter valued at about $25,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International in the first quarter valued at approximately $28,000. Northwest Financial Advisors purchased a new stake in shares of Edison International during the fourth quarter worth approximately $40,000. GAMMA Investing LLC acquired a new stake in shares of Edison International during the fourth quarter worth $48,000. Finally, Mather Group LLC. acquired a new stake in shares of Edison International during the first quarter worth $52,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EIX. The Goldman Sachs Group initiated 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. Barclays increased their price target on shares of Edison International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Guggenheim raised their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Morgan Stanley dropped their target price on Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Finally, Wells Fargo & Company increased their target price on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.27.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,474,696.60. 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 58,099 shares of the business’s 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 transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,738 shares of company stock worth $10,916,903. Insiders own 1.03% of the company’s stock.

Edison International Stock Performance

NYSE EIX opened at $82.27 on Friday. The business has a 50 day moving average price of $74.29 and a 200 day moving average price of $71.18. The company has a market capitalization of $31.77 billion, a P/E ratio of 36.08 and a beta of 0.91. Edison International has a 1-year low of $58.82 and a 1-year high of $83.05. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. Edison International’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 3.79%. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

About Edison International

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.