waypoint wealth counsel Makes New $360,000 Investment in Edison International $EIX

Key Points

• Waypoint Wealth Counsel has made a new investment in Edison International, purchasing 6,969 shares valued at approximately $360,000 during the second quarter.
• Several institutional investors have also increased their stakes in Edison International, with Farmers & Merchants Trust Co increasing its position by 2.7% during the same period.
• Edison International has announced a quarterly dividend of $0.8275 per share, yielding 6.3%, with the dividend scheduled for payment on October 31st.

waypoint wealth counsel bought a new position in Edison International (NYSE:EIX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,969 shares of the utilities provider's stock, valued at approximately $360,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Edison International by 2.7% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider's stock worth $383,000 after buying an additional 196 shares during the period. Kentucky Trust Co increased its position in shares of Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider's stock worth $26,000 after acquiring an additional 200 shares during the period. Empowered Funds LLC increased its position in shares of Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider's stock worth $523,000 after acquiring an additional 211 shares during the period. Presima Securities ULC increased its holdings in Edison International by 2.5% during the 1st quarter. Presima Securities ULC now owns 9,174 shares of the utilities provider's stock worth $541,000 after purchasing an additional 224 shares during the period. Finally, Private Advisor Group LLC increased its holdings in Edison International by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock worth $1,047,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on EIX shares. Jefferies Financial Group downgraded Edison International from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $70.00 to $57.00 in a report on Thursday, October 2nd. JPMorgan Chase & Co. raised their price target on Edison International from $67.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday, September 25th. UBS Group cut their price target on Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Morgan Stanley cut their target price on shares of Edison International from $61.00 to $60.00 and set an "underweight" rating on the stock in a research report on Thursday, September 25th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Edison International in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Edison International has a consensus rating of "Hold" and an average price target of $64.61.

Edison International Stock Down 1.7%

Shares of EIX stock opened at $52.17 on Friday. Edison International has a 1-year low of $47.73 and a 1-year high of $88.64. The stock's fifty day moving average price is $55.08 and its 200 day moving average price is $54.45. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the business earned $1.23 EPS. The firm's revenue for the quarter 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, research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced 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 yield of 6.3%. The ex-dividend date of this dividend is Tuesday, October 7th. Edison International's payout ratio is currently 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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