Edison International (NYSE:EIX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in Edison International (NYSE:EIX) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 84,744 shares of the utilities provider’s stock after selling 129 shares during the period. Retirement Systems of Alabama’s holdings in Edison International were worth $7,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in shares of Edison International during the third quarter valued at approximately $26,000. Eastern Bank bought a new position in Edison International during the third quarter valued at about $27,000. Larson Financial Group LLC grew its holdings in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Edison International in the 3rd quarter worth approximately $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International during the 2nd quarter valued at $27,000. 88.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on EIX shares. UBS Group raised their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays boosted their target price on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.03% of the stock is owned by corporate insiders.

Edison International Price Performance

NYSE EIX opened at $80.47 on Wednesday. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The company has a fifty day simple moving average of $84.11 and a 200 day simple moving average of $81.29. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market cap of $31.15 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business posted $1.38 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 4.11%. Edison International’s payout ratio is presently 97.07%.

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.