Plato Investment Management Ltd Buys 4,552 Shares of Edison International (NYSE:EIX)

Plato Investment Management Ltd raised its stake in Edison International (NYSE:EIX) by 11.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,790 shares of the utilities provider’s stock after acquiring an additional 4,552 shares during the period. Plato Investment Management Ltd’s holdings in Edison International were worth $3,216,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EIX. Able Wealth Management LLC bought a new position in shares of Edison International during the 4th quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International during the second quarter worth $27,000. Global Trust Asset Management LLC bought a new stake in Edison International during the first quarter valued at about $28,000. Country Trust Bank bought a new stake in shares of Edison International in the 2nd quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EIX shares. Barclays boosted their price target on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Morgan Stanley lifted their price target on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price objective on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Guggenheim increased their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Evercore ISI raised their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $84.67.

Edison International Price Performance

Edison International stock opened at $85.42 on Friday. The company has a 50-day moving average price of $81.06 and a 200 day moving average price of $74.89. The stock has a market cap of $32.99 billion, a P/E ratio of 37.47 and a beta of 0.91. 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 has a 12-month low of $58.82 and a 12-month high of $88.77.

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, 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 company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Edison International will post 4.96 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 3.65%. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The sale was disclosed in a 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 firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 over the last three months. 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.