Edison International (NYSE:EIX) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its position in shares of Edison International (NYSE:EIX) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,398 shares of the utilities provider’s stock after selling 299 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Edison International were worth $244,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in Edison International during the second quarter worth approximately $3,700,000. RBA Wealth Management LLC raised its stake in shares of Edison International by 6.2% in the 2nd quarter. RBA Wealth Management LLC now owns 38,050 shares of the utilities provider’s stock valued at $2,732,000 after acquiring an additional 2,231 shares during the period. Raymond James & Associates raised its stake in shares of Edison International by 3.3% in the 2nd quarter. Raymond James & Associates now owns 379,868 shares of the utilities provider’s stock valued at $27,278,000 after acquiring an additional 12,136 shares during the period. OFI Invest Asset Management purchased a new position in shares of Edison International in the 2nd quarter valued at $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Edison International by 1.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 924,280 shares of the utilities provider’s stock valued at $66,373,000 after purchasing an additional 9,600 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE:EIX traded down $0.24 during mid-day trading on Tuesday, hitting $83.65. The stock had a trading volume of 761,402 shares, compared to its average volume of 2,015,339. The stock has a market capitalization of $32.18 billion, a price-to-earnings ratio of 36.77 and a beta of 0.91. The company has a 50 day simple moving average of $75.94 and a 200-day simple moving average of $72.35. Edison International has a 52 week low of $58.82 and a 52 week high of $84.13. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last issued its quarterly earnings data 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. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. On average, research analysts expect that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. Edison International’s dividend payout ratio (DPR) is 136.84%.

Insiders Place Their Bets

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO J Andrew Murphy sold 32,505 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,575,159.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction 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. In the last three months, insiders have sold 73,845 shares of company stock worth $5,823,662. 1.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Argus raised their price target on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Barclays raised their price objective 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. Wells Fargo & Company raised their price objective on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Guggenheim raised their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Mizuho raised their price objective on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $80.09.

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.