Ascent Group LLC Acquires 16,412 Shares of Edison International $EIX

Ascent Group LLC raised its holdings in shares of Edison International (NYSE:EIX) by 374.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,798 shares of the utilities provider’s stock after acquiring an additional 16,412 shares during the quarter. Ascent Group LLC’s holdings in Edison International were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in EIX. Kentucky Trust Co grew its position in shares of Edison International by 66.7% in the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. American National Bank & Trust bought a new position in Edison International in the 2nd quarter worth about $32,000. Laurel Wealth Advisors LLC boosted its stake in Edison International by 5,064.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 709 shares during the period. CoreFirst Bank & Trust purchased a new position in Edison International during the 2nd quarter valued at about $38,000. Finally, Hilltop National Bank bought a new stake in shares of Edison International during the second quarter valued at about $44,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director owned 35,212 shares in the company, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. 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.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EIX. Morgan Stanley set a $57.00 price objective on shares of Edison International in a research report on Wednesday, December 17th. Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research note on Tuesday. Cowen assumed coverage on shares of Edison International in a report on Wednesday, October 15th. They issued a “buy” rating for the company. LADENBURG THALM/SH SH boosted their price target on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Jefferies Financial Group upped their price target on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.50.

Edison International Price Performance

EIX stock opened at $60.06 on Friday. The firm has a 50 day simple moving average of $58.15 and a two-hundred day simple moving average of $55.33. The stock has a market cap of $23.11 billion, a PE ratio of 7.85, a P/E/G ratio of 0.90 and a beta of 0.83. Edison International has a one year low of $47.73 and a one year high of $81.02. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. The company had revenue of $5.75 billion during 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 firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be given a dividend of $0.8775 per share. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, January 7th. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. Edison International’s dividend payout ratio is currently 45.88%.

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.