Ascent Group LLC Takes Position in Edison International $EIX

Ascent Group LLC purchased a new stake in shares of Edison International (NYSE:EIX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,386 shares of the utilities provider’s stock, valued at approximately $226,000.

Other institutional investors have also recently made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Edison International by 2.7% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock valued at $383,000 after purchasing an additional 196 shares during the period. Kentucky Trust Co raised its position in 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 during the period. Empowered Funds LLC raised its position in Edison International by 2.4% in the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 211 shares during the period. Presima Securities ULC raised its position in Edison International by 2.5% in the first quarter. Presima Securities ULC now owns 9,174 shares of the utilities provider’s stock valued at $541,000 after purchasing an additional 224 shares during the period. Finally, Private Advisor Group LLC raised its position in Edison International by 1.5% in the first quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider’s stock valued at $1,047,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $53.46 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. Edison International has a 12 month low of $47.73 and a 12 month high of $88.64. The company has a market cap of $20.57 billion, a P/E ratio of 7.85, a PEG ratio of 1.26 and a beta of 0.80. The firm has a fifty day moving average price of $55.09 and a 200 day moving average price of $54.55.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Edison International’s revenue for the quarter was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, October 7th. Edison International’s dividend payout ratio is presently 48.60%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EIX shares. Barclays boosted their target price on Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Morgan Stanley dropped their price target on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. UBS Group dropped their price target on shares of Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Wednesday. Finally, Jefferies Financial Group downgraded shares of Edison International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $70.00 to $57.00 in a research note on Thursday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.61.

Edison International 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.