SG Americas Securities LLC Acquires 32,962 Shares of Edison International $EIX

SG Americas Securities LLC boosted its holdings in shares of Edison International (NYSE:EIX) by 355.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,246 shares of the utilities provider’s stock after buying an additional 32,962 shares during the quarter. SG Americas Securities LLC’s holdings in Edison International were worth $2,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in shares of Edison International by 112.9% during the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock worth $577,000 after acquiring an additional 5,190 shares during the last quarter. Empowered Funds LLC raised its holdings in Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after purchasing an additional 211 shares during the period. Woodline Partners LP lifted its position in Edison International by 40.7% during the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after purchasing an additional 9,459 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Edison International by 16.5% during the first quarter. Geneos Wealth Management Inc. now owns 2,402 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 340 shares in the last quarter. Finally, Gradient Investments LLC bought a new stake in Edison International during the second quarter valued at about $1,427,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

EIX has been the topic of several recent research reports. Jefferies Financial Group raised their price objective on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. TD Cowen initiated 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 on the stock. JPMorgan Chase & Co. lowered their price target on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. 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, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.50.

Edison International Price Performance

Shares of NYSE:EIX opened at $60.73 on Wednesday. The firm has a market cap of $23.37 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 0.88 and a beta of 0.83. The firm has a fifty day moving average price of $58.84 and a 200 day moving average price of $55.97. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $63.97. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm posted $1.51 EPS. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be paid a dividend of $0.8775 per share. The ex-dividend date of this dividend is Wednesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. Edison International’s dividend payout ratio is currently 45.88%.

Edison International Company 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.