Marks Group Wealth Management Inc Decreases Stake in Edison International $EIX

Key Points

• Marks Group Wealth Management Inc reduced its stake in Edison International by 23.4% in Q2, owning 19,210 shares valued at approximately $991,000 after selling 5,877 shares.
• Multiple institutional investors are active with Edison International, including Oppenheimer & Co. which increased its stake by 98.7%, and GAMMA Investing LLC which boosted its position by 4,157.4%.
• Edison International has recently announced a quarterly dividend of $0.8275, equating to an annualized dividend yield of 6.0%, payable on October 31st.

Marks Group Wealth Management Inc lessened its holdings in shares of Edison International (NYSE:EIX - Free Report) by 23.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,210 shares of the utilities provider's stock after selling 5,877 shares during the quarter. Marks Group Wealth Management Inc's holdings in Edison International were worth $991,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its position in shares of Edison International by 98.7% in the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock worth $647,000 after acquiring an additional 5,454 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new position in Edison International in the first quarter valued at about $1,151,000. Wealth Enhancement Advisory Services LLC raised its position in Edison International by 135.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock valued at $7,297,000 after purchasing an additional 71,159 shares during the period. GAMMA Investing LLC boosted its position in shares of Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock worth $8,554,000 after buying an additional 141,769 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Edison International by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider's stock valued at $150,961,000 after buying an additional 145,358 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EIX has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on Edison International from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Barclays upped their target price 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. Jefferies Financial Group downgraded shares of Edison International from a "buy" rating to a "hold" rating and dropped their price target for the stock from $70.00 to $57.00 in a research note on Thursday. Morgan Stanley cut their price objective on shares of Edison International from $61.00 to $60.00 and set an "underweight" rating on the stock in a report on Thursday, September 25th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Edison International in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Edison International presently has a consensus rating of "Hold" and an average price target of $64.61.

Edison International Price Performance

EIX opened at $54.86 on Tuesday. The company has a market capitalization of $21.11 billion, a P/E ratio of 8.06, a PEG ratio of 1.30 and a beta of 0.80. The company has a 50-day moving average of $55.03 and a 200-day moving average of $54.56. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. Edison International has a 1-year low of $47.73 and a 1-year high of $88.64.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The business 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 company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, October 7th. Edison International's payout ratio is 48.60%.

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.

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