Edison International (NYSE:EIX) Stock Position Reduced by Old Port Advisors

Old Port Advisors decreased its position in Edison International (NYSE:EIX) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,112 shares of the utilities provider’s stock after selling 289 shares during the quarter. Old Port Advisors’ holdings in Edison International were worth $1,664,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. M&G Plc acquired a new position in Edison International in the first quarter worth $85,436,000. Capital International Investors grew its position in shares of Edison International by 6.4% during the 1st 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 last quarter. Capital Research Global Investors raised its stake in Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after acquiring an additional 345,189 shares during the period. Pzena Investment Management LLC lifted its holdings in Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after acquiring an additional 305,459 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Edison International by 595.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after acquiring an additional 272,876 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,104 shares of company stock worth $4,949,264. Corporate insiders own 1.20% of the company’s stock.

Edison International Price Performance

NYSE:EIX opened at $84.48 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The business’s 50-day moving average price is $85.54 and its 200 day moving average price is $78.48. Edison International has a 52-week low of $62.09 and a 52-week high of $88.77. The firm has a market cap of $32.62 billion, a P/E ratio of 33.93, a PEG ratio of 1.94 and a beta of 0.91.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.69%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio is presently 125.30%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Guggenheim raised their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. UBS Group upped their target price 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. Finally, Royal Bank of Canada boosted their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.55.

Edison International 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.