29,775 Shares in Edison International $EIX Purchased by Oak Thistle LLC

Oak Thistle LLC acquired a new stake in shares of Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 29,775 shares of the utilities provider’s stock, valued at approximately $1,646,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 2,386,562 shares during the last quarter. Geode Capital Management LLC raised its holdings in Edison International by 3.5% in the second quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock valued at $638,576,000 after acquiring an additional 407,039 shares in the last quarter. AQR Capital Management LLC boosted its stake in Edison International by 83.5% during the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after acquiring an additional 4,534,864 shares during the last quarter. Invesco Ltd. grew its holdings in Edison International by 10.8% during the 2nd quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock worth $329,851,000 after acquiring an additional 621,924 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Edison International by 11.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock worth $288,599,000 after purchasing an additional 562,991 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $59.55 on Thursday. The company has a market cap of $22.91 billion, a P/E ratio of 7.78, a PEG ratio of 0.87 and a beta of 0.83. The business has a 50 day moving average of $57.25 and a two-hundred day moving average of $54.74. Edison International has a 52 week low of $47.73 and a 52 week high of $81.02. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

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

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be paid a $0.8775 dividend. The ex-dividend date is Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.9%. Edison International’s dividend payout ratio (DPR) is 43.27%.

Insider Activity

In other news, Director Peter J. Taylor sold 1,800 shares of the business’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 completion of the transaction, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on EIX. Morgan Stanley set a $57.00 price target on shares of Edison International in a research report on Wednesday. Wells Fargo & Company upgraded Edison International to a “hold” rating in a research note on Tuesday, October 28th. TD Cowen began coverage on Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 target price on the stock. Jefferies Financial Group boosted their price target on Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Finally, LADENBURG THALM/SH SH upped their price target on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Edison International presently has an average rating of “Hold” and an average target price of $63.50.

About Edison International

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.