Jackson Thornton Wealth Management LLC Acquires New Holdings in Edison International $EIX

Jackson Thornton Wealth Management LLC bought a new position in shares of Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 10,573 shares of the utilities provider’s stock, valued at approximately $565,000.

A number of other hedge funds have also modified their holdings of EIX. Kentucky Trust Co grew its stake in shares of Edison International by 66.7% during the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. American National Bank & Trust acquired a new position in shares of Edison International during the 2nd quarter worth about $32,000. Laurel Wealth Advisors LLC lifted its stake in Edison International by 5,064.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 709 shares during the last quarter. Quent Capital LLC acquired a new position in Edison International during the third quarter worth approximately $40,000. Finally, CoreFirst Bank & Trust bought a new stake in Edison International in the second quarter valued at approximately $38,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

Shares of NYSE:EIX opened at $61.24 on Tuesday. The firm has a 50 day moving average of $59.25 and a 200-day moving average of $56.24. Edison International has a 12 month low of $47.73 and a 12 month high of $63.97. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $23.56 billion, a PE ratio of 8.00, a PEG ratio of 0.91 and a beta of 0.83.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the prior year, the firm posted $1.51 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, equities research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be paid a $0.8775 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s payout ratio is 45.88%.

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the transaction, the director owned 35,212 shares of the company’s stock, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on EIX. TD Cowen started coverage on shares of Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 target price for the company. Morgan Stanley set a $57.00 price target on Edison International in a report on Wednesday, December 17th. LADENBURG THALM/SH SH upped their price objective on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Wells Fargo & Company cut shares of Edison International from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $56.00 to $59.00 in a research report on Tuesday. Finally, Cowen assumed coverage on shares of Edison International in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Edison International has a consensus rating of “Hold” and an average price target of $63.80.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.