Edison International $EIX Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has reduced its stake in Edison International by 15.7%, now holding approximately 0.08% of the company's shares valued at $17.36 million.
• Edison International reported earnings of $0.97 per share, exceeding analysts' expectations, with quarterly revenue of $4.54 billion showing a 4.8% year-over-year increase.
• Analysts maintain a consensus rating of "Moderate Buy" on Edison International's stock, with an average price target of $75.21.

Gabelli Funds LLC trimmed its position in shares of Edison International (NYSE:EIX - Free Report) by 15.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 294,600 shares of the utilities provider's stock after selling 54,900 shares during the period. Gabelli Funds LLC owned approximately 0.08% of Edison International worth $17,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bellwether Advisors LLC acquired a new stake in shares of Edison International during the 4th quarter worth $34,000. Rakuten Securities Inc. increased its holdings in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after buying an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Edison International during the 1st quarter worth $25,000. Investment Management Corp VA ADV increased its holdings in shares of Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after buying an additional 265 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Edison International during the 1st quarter worth $35,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

NYSE:EIX opened at $54.94 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The firm has a 50-day moving average of $52.74 and a two-hundred day moving average of $54.36. The stock has a market cap of $21.14 billion, a P/E ratio of 8.07, a PEG ratio of 1.28 and a beta of 0.75. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77.

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

Edison International Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley restated an "overweight" rating on shares of Edison International in a report on Thursday, August 21st. Barclays upped their price objective on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.21.

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.

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