Norges Bank Purchases Shares of 2,942,050 Edison International (NYSE:EIX)

Norges Bank purchased a new stake in Edison International (NYSE:EIX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,942,050 shares of the utilities provider’s stock, valued at approximately $210,327,000. Norges Bank owned approximately 0.77% of Edison International as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC raised its holdings in Edison International by 2.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after acquiring an additional 164 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Edison International by 3.9% in the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock worth $281,000 after buying an additional 165 shares in the last quarter. Gibraltar Capital Management Inc. raised its holdings in shares of Edison International by 1.5% in the 4th quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock worth $829,000 after buying an additional 174 shares in the last quarter. Greenleaf Trust raised its holdings in shares of Edison International by 2.9% in the 3rd quarter. Greenleaf Trust now owns 6,481 shares of the utilities provider’s stock worth $410,000 after buying an additional 185 shares in the last quarter. Finally, ERTS Wealth Advisors LLC raised its holdings in shares of Edison International by 5.4% in the 4th quarter. ERTS Wealth Advisors LLC now owns 4,023 shares of the utilities provider’s stock worth $288,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,475,876.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is owned by corporate insiders.

Edison International Stock Down 1.6 %

Shares of EIX opened at $75.57 on Thursday. The firm has a market capitalization of $29.08 billion, a price-to-earnings ratio of 33.14 and a beta of 0.95. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00. The business’s fifty day moving average price is $71.21 and its two-hundred day moving average price is $69.00. Edison International has a 52 week low of $58.82 and a 52 week high of $76.83.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. On average, analysts predict that Edison International will post 4.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EIX. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. The Goldman Sachs Group began coverage on Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Mizuho increased their target price on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Royal Bank of Canada decreased their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Finally, Barclays increased their price target on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $76.00.

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.