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

Edison International (NYSE:EIX) CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 value 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 shares were sold at an average price of $78.43, for a total value of $2,274,077.85.

Edison International Stock Performance

EIX traded down $0.45 during trading hours on Tuesday, hitting $84.96. The stock had a trading volume of 386,134 shares, compared to its average volume of 1,986,269. The company’s fifty day simple moving average is $77.08 and its 200 day simple moving average is $73.01. Edison International has a 1 year low of $58.82 and a 1 year high of $85.96. The stock has a market cap of $32.69 billion, a PE ratio of 37.18 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders 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 3.67%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Institutional Trading of Edison International

A number of large investors have recently modified their holdings of the business. Capital Research Global Investors lifted its position in Edison International by 23.0% in the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock worth $1,429,769,000 after buying an additional 3,734,550 shares during the last quarter. Norges Bank purchased a new position in Edison International in the 4th quarter worth approximately $210,327,000. M&G Plc purchased a new position in shares of Edison International during the first quarter valued at approximately $85,436,000. Capital International Investors increased its stake in shares of Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in shares of Edison International by 98.1% during the fourth quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after buying an additional 667,273 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EIX. Barclays increased their target price on shares of Edison International from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Argus increased their target price on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Evercore ISI increased their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. UBS Group cut Edison International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $83.00 to $82.00 in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their price target on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $80.73.

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.