Raymond James Financial Inc. Has $24.55 Million Stake in Edison International $EIX

Key Points

• Raymond James Financial Inc. reduced its stake in Edison International by 15.5%, now holding 416,644 shares valued at approximately $24.55 million.
• The firm reported a quarterly earnings per share of $0.97, exceeding consensus estimates, and a year-over-year revenue growth of 4.8%.
• Edison International announced a quarterly dividend of $0.8275, yielding 6.1%, with a dividend payout ratio of 48.60%.

Raymond James Financial Inc. lowered its position in Edison International (NYSE:EIX - Free Report) by 15.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 416,644 shares of the utilities provider's stock after selling 76,145 shares during the period. Raymond James Financial Inc. owned 0.11% of Edison International worth $24,549,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. KWB Wealth increased its stake in shares of Edison International by 1.5% in the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after acquiring an additional 218 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Edison International by 1.5% in the 1st quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock valued at $1,047,000 after acquiring an additional 254 shares in the last quarter. Investment Management Corp VA ADV increased its stake in shares of Edison International by 159.6% in the 1st 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. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Edison International by 11.5% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock valued at $161,000 after acquiring an additional 281 shares in the last quarter. Finally, Triumph Capital Management increased its stake in shares of Edison International by 5.5% in the 1st quarter. Triumph Capital Management now owns 5,592 shares of the utilities provider's stock valued at $329,000 after acquiring an additional 293 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Wall Street Analyst Weigh In

EIX has been the subject of several research analyst reports. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Barclays lifted their price objective 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 lowered their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. 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 note on Monday, May 19th. Finally, Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $75.21.

Edison International Stock Performance

Shares of Edison International stock opened at $54.55 on Tuesday. 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 firm has a market capitalization of $20.99 billion, a P/E ratio of 8.01, a P/E/G ratio of 1.31 and a beta of 0.75. The business has a fifty day simple moving average of $52.62 and a two-hundred day simple moving average of $54.36. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77.

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

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.1%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio (DPR) is presently 48.60%.

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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