Cullen Frost Bankers Inc. Acquires 785 Shares of Edison International $EIX

Cullen Frost Bankers Inc. boosted its holdings in shares of Edison International (NYSE:EIX) by 71.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,886 shares of the utilities provider’s stock after acquiring an additional 785 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Edison International were worth $97,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised 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 valued at $647,000 after acquiring an additional 5,454 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Edison International by 6.0% during 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 acquiring an additional 145,358 shares in the last quarter. Blackhawk Capital Partners LLC. bought a new position in Edison International during the first quarter valued at approximately $399,000. Trilogy Capital Inc. grew its holdings in Edison International by 24.9% during the first quarter. Trilogy Capital Inc. now owns 46,435 shares of the utilities provider’s stock valued at $2,736,000 after purchasing an additional 9,257 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in Edison International by 41.4% during the first quarter. Edgestream Partners L.P. now owns 141,947 shares of the utilities provider’s stock valued at $8,364,000 after purchasing an additional 41,537 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on EIX shares. TD Cowen started coverage on Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 price target on the stock. Barclays increased their price target on Edison International from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group lowered their price target on Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Morgan Stanley increased their price target on Edison International from $60.00 to $66.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Cowen started coverage on Edison International in a report on Wednesday, October 15th. They set a “buy” rating on the stock. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $66.45.

Edison International Trading Up 0.9%

Shares of Edison International stock opened at $57.76 on Friday. The company’s fifty day simple moving average is $55.40 and its 200-day simple moving average is $54.48. The company has a market cap of $22.23 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 0.87 and a beta of 0.80. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. Edison International’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.7%. Edison International’s dividend payout ratio (DPR) is presently 48.60%.

Edison International Company 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.