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

Kentucky Retirement Systems lessened its stake in Edison International (NYSE:EIX) by 7.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,903 shares of the utilities provider’s stock after selling 2,091 shares during the quarter. Kentucky Retirement Systems’ holdings in Edison International were worth $2,343,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in EIX. Highline Wealth Partners LLC purchased a new position in Edison International in the third quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International during the 2nd quarter worth $27,000. Eastern Bank acquired a new position in shares of Edison International during the third quarter worth $27,000. Country Trust Bank purchased a new position in Edison International in the second quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. raised its stake in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Trading Up 1.9 %

Shares of Edison International stock opened at $83.68 on Monday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The stock has a market cap of $32.40 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. The company has a 50-day moving average of $84.55 and a two-hundred day moving average of $79.72. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the firm posted $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent analyst reports. Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Bank of America initiated coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. UBS Group boosted their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley lifted their price target on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 23,896 shares of the company’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 completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,878 shares of company stock valued at $4,285,422. Corporate insiders own 1.03% of the company’s stock.

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.