Bfsg LLC Trims Holdings in Edison International (NYSE:EIX)

Bfsg LLC decreased its holdings in shares of Edison International (NYSE:EIX) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,842 shares of the utilities provider’s stock after selling 164 shares during the period. Bfsg LLC’s holdings in Edison International were worth $779,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EIX. Able Wealth Management LLC purchased a new stake in Edison International during the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new stake in Edison International in the first quarter valued at $28,000. Country Trust Bank bought a new stake in Edison International during the 2nd quarter valued at $29,000. OFI Invest Asset Management bought a new stake in shares of Edison International during the second quarter valued at about $32,000. Finally, LRI Investments LLC raised its position in shares of Edison International by 193.7% during the 2nd quarter. LRI Investments LLC now owns 514 shares of the utilities provider’s stock worth $37,000 after buying an additional 339 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 1.8 %

Shares of EIX stock traded up $1.50 on Thursday, hitting $86.50. 2,010,575 shares of the company’s stock traded hands, compared to its average volume of 1,986,700. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a market capitalization of $33.28 billion, a price-to-earnings ratio of 37.94 and a beta of 0.91. The company’s fifty day simple moving average is $77.62 and its 200 day simple moving average is $73.24. Edison International has a one year low of $58.82 and a one year high of $87.14.

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

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a $0.78 dividend. 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 3.61%. Edison International’s dividend payout ratio is currently 136.84%.

Insider Transactions at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on 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 $1,696,182.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,103 shares of company stock valued at $7,981,345. 1.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EIX has been the subject of several research reports. Mizuho raised their price target 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. Argus upped their target price on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Barclays upped 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 note on Tuesday, July 30th. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Guggenheim lifted their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.73.

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.