Advisors Asset Management Inc. Raises Holdings in Edison International $EIX

Advisors Asset Management Inc. grew its holdings in Edison International (NYSE:EIX) by 105.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,223 shares of the utilities provider’s stock after purchasing an additional 41,134 shares during the period. Advisors Asset Management Inc.’s holdings in Edison International were worth $4,140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EIX. Charles Schwab Investment Management Inc. increased its holdings in Edison International by 6.0% in the 1st 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. Ontario Teachers Pension Plan Board boosted its position in shares of Edison International by 64.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 85,883 shares of the utilities provider’s stock worth $5,060,000 after buying an additional 33,718 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of Edison International by 5.3% in the second quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock valued at $18,809,000 after buying an additional 18,412 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Edison International in the 2nd quarter valued at $456,000. Finally, Voya Investment Management LLC lifted its stake in Edison International by 9.8% during the 1st quarter. Voya Investment Management LLC now owns 351,524 shares of the utilities provider’s stock worth $20,712,000 after acquiring an additional 31,488 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on EIX. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Wells Fargo & Company upgraded shares of Edison International to a “hold” rating in a research note on Tuesday, October 28th. UBS Group decreased their target price on Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Morgan Stanley set a $64.00 price target on Edison International in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and an average target price of $64.10.

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 on Thursday, October 30th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Edison International Trading Up 1.2%

NYSE EIX opened at $59.18 on Friday. The firm’s fifty day moving average price is $56.40 and its 200 day moving average price is $54.64. Edison International has a 12 month low of $47.73 and a 12 month high of $88.64. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market capitalization of $22.77 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 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 previous year, the firm earned $1.51 earnings per share. The business’s revenue 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. On average, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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