Edison International (EIX) Director Vanessa C. L. Chang Sells 2,500 Shares
Edison International (NYSE:EIX) Director Vanessa C. L. Chang sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $79.03, for a total transaction of $197,575.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at approximately $197,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Edison International (NYSE:EIX) traded down 0.98% during mid-day trading on Monday, hitting $78.82. 1,172,830 shares of the stock were exchanged. The stock has a market cap of $25.68 billion, a price-to-earnings ratio of 19.82 and a beta of 0.15. The company has a 50 day moving average price of $76.59 and a 200 day moving average price of $72.73. Edison International has a 52 week low of $67.44 and a 52 week high of $80.61.
Edison International (NYSE:EIX) last released its earnings results on Tuesday, February 21st. The company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. Edison International had a return on equity of 9.59% and a net margin of 8.80%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Analysts expect that Edison International will post $4.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.5425 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $2.17 annualized dividend and a yield of 2.73%. Edison International’s dividend payout ratio (DPR) is presently 80.67%.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its position in Edison International by 0.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,912 shares of the company’s stock valued at $210,000 after buying an additional 14 shares during the period. Baystate Wealth Management LLC boosted its position in Edison International by 0.5% in the third quarter. Baystate Wealth Management LLC now owns 3,042 shares of the company’s stock valued at $220,000 after buying an additional 16 shares during the period. Raymond James Trust N.A. boosted its position in Edison International by 0.9% in the third quarter. Raymond James Trust N.A. now owns 4,390 shares of the company’s stock valued at $317,000 after buying an additional 41 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Edison International by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,677 shares of the company’s stock valued at $1,345,000 after buying an additional 69 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Edison International by 0.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 8,351 shares of the company’s stock valued at $603,000 after buying an additional 75 shares during the period. 81.30% of the stock is currently owned by institutional investors.
Several research firms recently commented on EIX. Royal Bank of Canada restated a “buy” rating and issued a $84.00 price target on shares of Edison International in a report on Friday, February 24th. Zacks Investment Research upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Wednesday, February 8th. Barclays PLC cut their price target on shares of Edison International from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 8th. Finally, Evercore ISI restated a “hold” rating on shares of Edison International in a report on Friday, January 20th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $78.71.
Edison International Company Profile
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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