Ascent Group LLC Takes Position in Edison International $EIX

Ascent Group LLC bought a new stake in Edison International (NYSE:EIX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,386 shares of the utilities provider’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. raised its holdings in Edison International by 4,633.3% during the first 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 position in Edison International during the first quarter worth about $25,000. Investment Management Corp VA ADV raised its holdings in Edison International by 159.6% during the first 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. Kentucky Trust Co raised its holdings in 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 purchasing an additional 200 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in Edison International during the second quarter worth about $32,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Down 0.4%

EIX stock opened at $53.46 on Thursday. Edison International has a 12 month low of $47.73 and a 12 month high of $88.64. The company’s 50 day simple moving average is $55.09 and its 200-day simple moving average is $54.55. The firm has a market capitalization of $20.57 billion, a PE ratio of 7.85, a P/E/G ratio of 1.26 and a beta of 0.80. 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 (NYSE:EIX) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) 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 firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the business earned $1.23 earnings per share. Edison International’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. Equities 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. Edison International’s dividend payout ratio (DPR) is currently 48.60%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Wednesday. Jefferies Financial Group cut shares of Edison International from a “buy” rating to a “hold” rating and cut their price target for the stock from $70.00 to $57.00 in a report on Thursday, October 2nd. Barclays increased their price target on shares of Edison International from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. JPMorgan Chase & Co. increased their target price on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Finally, UBS Group dropped their target price on shares of Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Five investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $64.61.

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.