Waycross Partners LLC bought a new position in Edison International (NYSE:EIX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,758 shares of the utilities provider's stock, valued at approximately $349,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. lifted its stake in Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after purchasing an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Edison International in the 1st quarter worth approximately $25,000. Investment Management Corp VA ADV lifted its stake in Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after purchasing an additional 265 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Edison International during the 1st quarter valued at $35,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Edison International during the 4th quarter valued at $56,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have recently weighed in on EIX shares. Morgan Stanley raised their price objective on shares of Edison International from $55.00 to $61.00 and gave the company an "underweight" rating in a research report on Thursday, September 18th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Barclays raised their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, UBS Group lowered their price objective on shares of Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Edison International has an average rating of "Hold" and a consensus price target of $72.15.
Get Our Latest Analysis on EIX
Edison International Stock Up 1.9%
EIX opened at $55.28 on Wednesday. The company has a market cap of $21.27 billion, a P/E ratio of 8.12, a P/E/G ratio of 1.27 and a beta of 0.80. The business's 50-day moving average price is $54.42 and its 200-day moving average price is $54.73. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. 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 released its quarterly earnings data 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 firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, equities analysts expect that Edison International will post 4.95 EPS for the current year.
Edison International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be given a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.0%. Edison International's payout ratio is presently 48.60%.
Edison International Profile
(
Free Report)
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.
Further Reading
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