Edison International (NYSE:EIX) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its position in Edison International (NYSE:EIX - Free Report) by 76.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,772 shares of the utilities provider's stock after selling 104,737 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Edison International were worth $2,854,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EIX. abrdn plc increased its holdings in shares of Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider's stock valued at $123,149,000 after acquiring an additional 885,955 shares during the period. Capital International Investors increased its holdings in shares of Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider's stock valued at $940,562,000 after acquiring an additional 795,950 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider's stock valued at $68,081,000 after acquiring an additional 422,752 shares during the period. Capital Research Global Investors increased its holdings in shares of Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider's stock valued at $1,438,984,000 after acquiring an additional 345,189 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Edison International by 595.9% in the 2nd 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. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Trading Up 0.6 %

EIX stock traded up $0.48 during midday trading on Wednesday, hitting $86.12. The stock had a trading volume of 1,738,422 shares, compared to its average volume of 2,029,484. The firm has a market cap of $33.34 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company's 50-day moving average price is $84.53 and its 200 day moving average price is $79.90.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same period in the previous year, the company earned $1.38 EPS. Edison International's revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. Edison International's dividend payout ratio is presently 91.50%.

Analysts Set New Price Targets

Several brokerages have issued reports on EIX. Barclays boosted their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Bank of America started coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a "buy" rating and a $95.00 price objective on the stock. UBS Group boosted their price objective 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. Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Finally, Guggenheim boosted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

Insider Activity

In related news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock valued at $4,285,422 in the last ninety days. Company insiders own 1.20% 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.