Avalon Trust Co Makes New Investment in Edison International $EIX

Avalon Trust Co bought a new stake in shares of Edison International (NYSE:EIX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,712 shares of the utilities provider’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Edison International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock valued at $2,892,003,000 after acquiring an additional 493,778 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Edison International by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock valued at $638,576,000 after purchasing an additional 407,039 shares in the last quarter. Invesco Ltd. lifted its position in shares of Edison International by 19.8% during the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock worth $340,000,000 after purchasing an additional 953,897 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after purchasing an additional 2,987,318 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Edison International by 190.5% in the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after buying an additional 3,559,602 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on EIX shares. Zacks Research raised Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Morgan Stanley lifted their price objective on shares of Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their target price on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Barclays decreased their price target on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Wells Fargo & Company upgraded shares of Edison International to a “hold” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $64.30.

Edison International Trading Up 0.5%

Shares of NYSE:EIX opened at $59.07 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The company’s 50-day moving average price is $55.76 and its 200 day moving average price is $54.45. The company has a market cap of $22.73 billion, a PE ratio of 7.72, a P/E/G ratio of 0.83 and a beta of 0.85. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64.

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

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were paid a $0.8275 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.6%. Edison International’s dividend payout ratio is presently 43.27%.

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.