Edison International (NYSE:EIX) CEO Sells $4,358,005.99 in Stock

Edison International (NYSE:EIX - Get Free Report) CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the transaction, the chief executive officer now owns 19,660 shares of the company's stock, valued at approximately $1,474,696.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Edison International Price Performance

Shares of Edison International stock traded down $0.45 on Monday, hitting $74.44. 1,262,547 shares of the company traded hands, compared to its average volume of 2,161,660. The firm's 50-day simple moving average is $70.09 and its 200 day simple moving average is $68.34. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The company has a market cap of $28.64 billion, a P/E ratio of 32.64 and a beta of 0.95. Edison International has a 12-month low of $58.82 and a 12-month high of $75.34.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to analysts' expectations of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. Analysts expect that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International's payout ratio is presently 136.84%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EIX. Royal Bank of Canada cut their target price on shares of Edison International from $81.00 to $80.00 and set an "outperform" rating for the company in a research report on Thursday, March 7th. Barclays raised their price objective on shares of Edison International from $72.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, May 2nd. TheStreet downgraded shares of Edison International from a "b" rating to a "c+" rating in a report on Thursday, February 22nd. StockNews.com raised shares of Edison International from a "sell" rating to a "hold" rating in a report on Saturday, February 24th. Finally, Guggenheim raised shares of Edison International from a "neutral" rating to a "buy" rating and raised their price target for the company from $66.00 to $84.00 in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $72.78.

Hedge Funds Weigh In On Edison International

A number of large investors have recently added to or reduced their stakes in the business. Carson Advisory Inc. grew its holdings in Edison International by 0.3% in the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider's stock worth $3,864,000 after acquiring an additional 152 shares during the last quarter. Cohen Capital Management Inc. grew its holdings in Edison International by 0.5% in the 1st quarter. Cohen Capital Management Inc. now owns 35,744 shares of the utilities provider's stock worth $2,528,000 after acquiring an additional 161 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Edison International by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,743 shares of the utilities provider's stock worth $1,043,000 after acquiring an additional 161 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Edison International by 2.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider's stock worth $418,000 after acquiring an additional 162 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in Edison International by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,496 shares of the utilities provider's stock worth $318,000 after acquiring an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

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.

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