Edison International (NYSE:EIX) insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the transaction, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Edison International (NYSE:EIX) traded down $0.86 during mid-day trading on Friday, hitting $80.89. The company had a trading volume of 1,395,112 shares, compared to its average volume of 1,688,196. Edison International has a fifty-two week low of $67.73 and a fifty-two week high of $83.38. The company has a market capitalization of $26,640.00, a PE ratio of 18.83, a P/E/G ratio of 3.01 and a beta of 0.24. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. equities research analysts predict that Edison International will post 4.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were given a dividend of $0.5425 per share. The ex-dividend date was Thursday, September 28th. This represents a $2.17 annualized dividend and a yield of 2.68%. Edison International’s dividend payout ratio is currently 49.54%.
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A number of institutional investors and hedge funds have recently made changes to their positions in EIX. Eqis Capital Management Inc. raised its position in Edison International by 1.0% during the second quarter. Eqis Capital Management Inc. now owns 7,592 shares of the utilities provider’s stock valued at $594,000 after purchasing an additional 73 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Edison International by 1.1% during the second quarter. Oregon Public Employees Retirement Fund now owns 85,324 shares of the utilities provider’s stock valued at $6,671,000 after purchasing an additional 900 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Edison International by 40.6% during the second quarter. Nisa Investment Advisors LLC now owns 47,405 shares of the utilities provider’s stock valued at $3,717,000 after purchasing an additional 13,690 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Edison International by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the utilities provider’s stock valued at $1,579,000 after purchasing an additional 200 shares in the last quarter. Finally, Aperio Group LLC raised its position in Edison International by 8.6% during the second quarter. Aperio Group LLC now owns 146,024 shares of the utilities provider’s stock valued at $11,418,000 after purchasing an additional 11,593 shares in the last quarter. Institutional investors and hedge funds own 80.88% of the company’s stock.
A number of equities analysts recently commented on EIX shares. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a report on Wednesday. SunTrust Banks, Inc. reiterated a “buy” rating and set a $89.00 price target on shares of Edison International in a report on Monday, October 30th. BidaskClub upgraded Edison International from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Jefferies Group LLC upgraded Edison International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $90.00 in a report on Friday, August 11th. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of Edison International in a report on Thursday, August 17th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and an average target price of $85.08.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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