Park Avenue Securities LLC Buys Shares of 4,389 Edison International $EIX

Park Avenue Securities LLC purchased a new position in Edison International (NYSE:EIX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,389 shares of the utilities provider’s stock, valued at approximately $226,000.

Several other large investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in Edison International by 98.7% during the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider’s stock worth $647,000 after acquiring an additional 5,454 shares during the last quarter. Tounjian Advisory Partners LLC purchased a new position in Edison International in the 1st quarter worth approximately $1,151,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Edison International by 135.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider’s stock worth $7,297,000 after purchasing an additional 71,159 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock valued at $8,554,000 after purchasing an additional 141,769 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Edison International by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider’s stock valued at $150,961,000 after purchasing an additional 145,358 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of EIX opened at $56.29 on Thursday. The stock has a 50-day simple moving average of $54.87 and a 200-day simple moving average of $54.70. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The stock has a market capitalization of $21.66 billion, a PE ratio of 8.27, a PEG ratio of 1.30 and a beta of 0.80. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Tuesday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 48.60%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley lowered their price objective on Edison International from $61.00 to $60.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Wolfe Research cut shares of Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. UBS Group cut their price objective on shares of Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Barclays boosted their target price on shares of Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.75.

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.