TD Asset Management Inc Boosts Holdings in Edison International $EIX

Key Points

• TD Asset Management Inc increased its holdings in Edison International by 67.5%, owning 323,320 shares valued at approximately $16.68 million as of the last quarter.
• Edison International reported earnings of $0.97 per share for the last quarter, exceeding analysts' expectations and marking a 4.8% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.8275 per share, with a dividend yield of 5.8% scheduled to be paid on October 31st.

TD Asset Management Inc increased its position in Edison International (NYSE:EIX - Free Report) by 67.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 323,320 shares of the utilities provider's stock after purchasing an additional 130,289 shares during the quarter. TD Asset Management Inc owned 0.08% of Edison International worth $16,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in Edison International by 135.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock valued at $7,297,000 after buying an additional 71,159 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Edison International by 33.2% in the first quarter. Exchange Traded Concepts LLC now owns 5,348 shares of the utilities provider's stock valued at $315,000 after purchasing an additional 1,333 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Edison International by 17.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider's stock valued at $6,324,000 after purchasing an additional 15,718 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Edison International during the 1st quarter worth approximately $201,000. Finally, Robertson Stephens Wealth Management LLC raised its position in shares of Edison International by 82.0% in the 1st quarter. Robertson Stephens Wealth Management LLC now owns 5,544 shares of the utilities provider's stock valued at $327,000 after purchasing an additional 2,498 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Stock Performance

Edison International stock opened at $56.75 on Friday. The company has a market cap of $21.84 billion, a PE ratio of 8.33, a P/E/G ratio of 0.97 and a beta of 0.80. The company has a fifty day moving average price of $55.20 and a two-hundred day moving average price of $54.40. 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 has a 12 month low of $47.73 and a 12 month high of $88.64.

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

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.8%. Edison International's dividend payout ratio is 48.60%.

Analyst Ratings Changes

A number of research firms have recently weighed in on EIX. TD Cowen began coverage on shares of Edison International in a research report on Thursday. They set a "buy" rating and a $71.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Edison International from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Cowen began coverage on shares of Edison International in a research report on Wednesday. They set a "buy" rating on the stock. Jefferies Financial Group downgraded Edison International from a "buy" rating to a "hold" rating and decreased their price target for the stock from $70.00 to $57.00 in a research note on Thursday, October 2nd. Finally, UBS Group lowered their price objective on Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $65.25.

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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