Tortoise Capital Advisors L.L.C. Decreases Holdings in Edison International (NYSE:EIX)

Tortoise Capital Advisors L.L.C. cut its stake in Edison International (NYSE:EIX) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 648,341 shares of the utilities provider’s stock after selling 11,837 shares during the quarter. Edison International comprises about 0.6% of Tortoise Capital Advisors L.L.C.’s investment portfolio, making the stock its 27th biggest position. Tortoise Capital Advisors L.L.C. owned 0.17% of Edison International worth $46,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of EIX. Able Wealth Management LLC purchased a new position in shares of Edison International in the fourth quarter valued at $25,000. Global Trust Asset Management LLC purchased a new stake in shares of Edison International during the first quarter worth about $28,000. Country Trust Bank purchased a new stake in shares of Edison International during the second quarter worth about $29,000. Farmers & Merchants Investments Inc. lifted its stake in shares of 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 acquiring an additional 140 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Edison International in the second quarter valued at about $32,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity

In related news, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 legal filing with the SEC, which is available through this hyperlink. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 in the last three months. 1.03% of the stock is owned by insiders.

Edison International Price Performance

NYSE EIX opened at $86.68 on Friday. The stock has a market capitalization of $33.47 billion, a P/E ratio of 38.02 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The business’s fifty day moving average is $79.74 and its two-hundred day moving average is $74.23. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating 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 business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Edison International’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.60%. The ex-dividend date was Monday, July 8th. Edison International’s payout ratio is currently 136.84%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Argus lifted their price target on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Mizuho increased their price objective on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $82.36.

Edison International 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.