Carson Advisory Inc. Increases Position in Edison International $EIX

Carson Advisory Inc. lifted its position in Edison International (NYSE:EIX) by 5.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,920 shares of the utilities provider’s stock after purchasing an additional 3,540 shares during the period. Edison International accounts for about 2.2% of Carson Advisory Inc.’s investment portfolio, making the stock its 11th biggest position. Carson Advisory Inc.’s holdings in Edison International were worth $3,401,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Edison International by 1.0% in the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock valued at $2,892,003,000 after purchasing an additional 493,778 shares during the period. Invesco Ltd. increased its position in shares of Edison International by 19.8% during the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock worth $340,000,000 after purchasing an additional 953,897 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Edison International by 111.6% during the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after purchasing an additional 2,987,318 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Edison International by 190.5% during the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock worth $319,169,000 after purchasing an additional 3,559,602 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Edison International by 38.3% during the first quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock worth $274,485,000 after purchasing an additional 1,289,062 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

NYSE:EIX opened at $55.40 on Friday. Edison International has a one year low of $47.73 and a one year high of $88.64. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 0.83 and a beta of 0.80. The firm’s fifty day moving average is $55.44 and its two-hundred day moving average is $54.45.

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

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s dividend payout ratio is presently 43.27%.

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the sale, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

EIX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Cowen initiated coverage on Edison International in a research report on Wednesday, October 15th. They issued a “buy” rating on the stock. Wells Fargo & Company raised Edison International to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley upped their target price on Edison International from $60.00 to $66.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. Finally, LADENBURG THALM/SH SH upped their target price on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Edison International presently has an average rating of “Hold” and a consensus target price of $64.30.

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.