Ellen O. Tauscher Sells 3,012 Shares of Edison International (EIX) Stock
Edison International (NYSE:EIX) Director Ellen O. Tauscher sold 3,012 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $71.87, for a total value of $216,472.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Edison International (NYSE:EIX) opened at 73.52 on Tuesday. The firm has a market cap of $23.95 billion, a price-to-earnings ratio of 27.26 and a beta of 0.17. The stock has a 50 day moving average price of $73.96 and a 200 day moving average price of $72.97. Edison International has a 12 month low of $57.51 and a 12 month high of $78.72.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by $0.12. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.18 billion. Edison International had a net margin of 8.56% and a return on equity of 9.13%. Edison International’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. On average, equities analysts expect that Edison International will post $3.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.61%. Edison International’s payout ratio is 71.11%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Edison International by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,898 shares of the company’s stock worth $225,000 after buying an additional 16 shares in the last quarter. Baystate Wealth Management LLC boosted its stake in shares of Edison International by 0.7% in the second quarter. Baystate Wealth Management LLC now owns 3,026 shares of the company’s stock worth $235,000 after buying an additional 20 shares in the last quarter. Security National Trust Co. boosted its stake in shares of Edison International by 0.5% in the second quarter. Security National Trust Co. now owns 6,390 shares of the company’s stock worth $496,000 after buying an additional 30 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Edison International by 0.9% in the second quarter. Wetherby Asset Management Inc. now owns 3,361 shares of the company’s stock worth $261,000 after buying an additional 30 shares in the last quarter. Finally, TIAA CREF Trust Co. FSB MO boosted its stake in shares of Edison International by 0.3% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 14,644 shares of the company’s stock worth $1,137,000 after buying an additional 46 shares in the last quarter. 81.96% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. Evercore ISI downgraded Edison International from a “buy” rating to a “hold” rating and raised their price objective for the stock from $70.00 to $79.00 in a report on Wednesday, July 6th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Jefferies Group restated a “hold” rating on shares of Edison International in a report on Monday, July 11th. Argus restated a “buy” rating and issued a $86.00 price objective (up from $83.00) on shares of Edison International in a report on Tuesday, July 5th. Finally, Citigroup Inc. raised their price objective on Edison International from $70.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.38.
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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