Equitable Trust Co. Lowers Stake in Edison International $EIX

Key Points

• Equitable Trust Co. reduced its stake in Edison International by 34.5% during the 2nd quarter, owning 28,227 shares after selling 14,900 shares.
• Edison International reported a $0.97 EPS for the last quarter, surpassing analyst expectations of $0.88, with revenue increased by 4.8% year-over-year.
• The company declared a quarterly dividend of $0.8275 per share, yielding 5.9%, with the ex-dividend date set for October 7th.

Equitable Trust Co. lessened its stake in Edison International (NYSE:EIX - Free Report) by 34.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,227 shares of the utilities provider's stock after selling 14,900 shares during the quarter. Equitable Trust Co.'s holdings in Edison International were worth $1,457,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. lifted 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 worth $25,000 after buying an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Edison International in the first quarter worth $25,000. Investment Management Corp VA ADV raised its stake in Edison International by 159.6% during the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 265 shares in the last quarter. Kentucky Trust Co raised its stake in Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Finally, American National Bank & Trust purchased a new stake in Edison International during the second quarter valued at $32,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent research reports. Barclays upped their price target on shares of 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 decreased their price target on shares of Edison International from $61.00 to $60.00 and set an "underweight" rating on the stock in a research note on Thursday, September 25th. UBS Group decreased their price target on shares of Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Jefferies Financial Group cut shares of Edison International from a "buy" rating to a "hold" rating and cut their price objective for the company from $70.00 to $57.00 in a research report on Thursday, October 2nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Edison International in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $64.61.

Edison International Trading Up 4.5%

NYSE EIX opened at $56.05 on Wednesday. The company's 50-day moving average price is $55.07 and its 200-day moving average price is $54.41. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. The stock has a market cap of $21.57 billion, a PE ratio of 8.23, a PEG ratio of 0.92 and a beta of 0.80. Edison International has a 12 month low of $47.73 and a 12 month high of $88.64.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion for 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 business's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, October 7th. Edison International's dividend 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.

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