CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Takes Position in Edison International $EIX

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in Edison International (NYSE:EIX) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 190,000 shares of the utilities provider’s stock, valued at approximately $10,503,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Edison International in the second quarter worth about $268,801,000. AQR Capital Management LLC boosted its stake in Edison International by 83.5% in the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock worth $510,649,000 after purchasing an additional 4,534,864 shares during the period. ATLAS Infrastructure Partners UK Ltd. grew its position in Edison International by 197.2% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock worth $258,997,000 after purchasing an additional 2,916,645 shares in the last quarter. Vanguard Group Inc. raised its stake in Edison International by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock valued at $2,655,858,000 after purchasing an additional 2,386,562 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Edison International by 237.2% in the second quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock valued at $98,276,000 after purchasing an additional 1,339,806 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 0.4%

Shares of NYSE EIX opened at $60.33 on Wednesday. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.90 and a beta of 0.83. The business has a 50 day simple moving average of $58.05 and a 200 day simple moving average of $55.26. Edison International has a 52 week low of $47.73 and a 52 week high of $81.02. 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 issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.18. The firm 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%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. 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. Edison International’s dividend payout ratio (DPR) is presently 43.27%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EIX shares. UBS Group lifted their price target on Edison International from $66.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Cowen began coverage on Edison International in a research note on Wednesday, October 15th. They set a “buy” rating on the stock. Wall Street Zen raised shares of Edison International from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Finally, Barclays dropped their price objective on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.50.

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the 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 $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

About Edison International

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.