Kaufman Rossin Wealth LLC Invests $374,000 in Edison International $EIX

Key Points

• Kaufman Rossin Wealth LLC has acquired a new stake of 6,353 shares in Edison International, valued at approximately $374,000, during the first quarter.
• Edison International reported earnings per share of $0.97 for the last quarter, exceeding estimates and reflecting a 4.8% increase in revenue compared to the previous year.
• The company recently announced a quarterly dividend of $0.8275 per share, resulting in an annualized payout of $3.31 and a dividend yield of 5.9%.

Kaufman Rossin Wealth LLC bought a new position in shares of Edison International (NYSE:EIX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,353 shares of the utilities provider's stock, valued at approximately $374,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rakuten Securities Inc. raised its holdings in shares of Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Edison International in the first quarter valued at about $25,000. Investment Management Corp VA ADV raised its holdings in shares of Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 265 shares in the last quarter. Bellwether Advisors LLC bought a new stake in shares of Edison International in the fourth quarter valued at about $34,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Edison International in the first quarter valued at about $35,000. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EIX has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Barclays lifted their target price on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Morgan Stanley restated an "overweight" rating on shares of Edison International in a research note on Thursday. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.21.

Edison International Stock Performance

NYSE:EIX traded up $0.40 during trading hours on Tuesday, reaching $54.90. The company had a trading volume of 615,649 shares, compared to its average volume of 4,356,472. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77. The firm has a market cap of $21.13 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 1.31 and a beta of 0.75. The business's 50 day moving average price is $52.62 and its 200-day moving average price is $54.36. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the company posted $1.23 earnings per share. Edison International's revenue for the quarter was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were issued a $0.8275 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. Edison International's payout ratio is presently 48.60%.

About Edison International

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.