Edison International (NYSE:EIX) CEO J Andrew Murphy Sells 23,896 Shares

Edison International (NYSE:EIX) CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.

J Andrew Murphy also recently made the following trade(s):

• On Friday, August 23rd, J Andrew Murphy sold 1,362 shares of Edison International stock. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00.
• On Wednesday, July 31st, J Andrew Murphy sold 32,505 shares of Edison International stock. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60.
• On Friday, July 26th, J Andrew Murphy sold 28,995 shares of Edison International stock. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85.

Edison International Trading Up 1.8 %

Shares of EIX opened at $86.50 on Friday. Edison International has a twelve month low of $58.82 and a twelve month high of $87.14. The firm has a market capitalization of $33.28 billion, a P/E ratio of 37.94 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The stock’s fifty day simple moving average is $77.62 and its 200 day simple moving average is $73.24.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $1.01 EPS. On average, equities research analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 3.61%. Edison International’s dividend payout ratio is currently 136.84%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EIX. Mizuho increased their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Argus lifted their price target on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Morgan Stanley upped their price objective on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their target price on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Guggenheim increased their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.73.

Hedge Funds Weigh In On Edison International

A number of hedge funds have recently made changes to their positions in EIX. CreativeOne Wealth LLC acquired a new position in shares of Edison International during the first quarter worth about $230,000. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Edison International by 4.2% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock worth $976,000 after acquiring an additional 551 shares during the period. Jump Financial LLC acquired a new stake in Edison International in the fourth quarter valued at approximately $1,215,000. Avantax Advisory Services Inc. raised its stake in shares of 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 purchasing an additional 8,922 shares during the period. Finally, Swedbank AB lifted its position in shares of Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after purchasing an additional 193,307 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.