Rakuten Investment Management Inc. Purchases New Shares in Edison International $EIX

Rakuten Investment Management Inc. purchased a new position in shares of Edison International (NYSE:EIX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,270 shares of the utilities provider’s stock, valued at approximately $623,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in shares of Edison International by 2.7% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock worth $383,000 after purchasing an additional 196 shares during the period. MAI Capital Management boosted its stake in shares of Edison International by 20.8% in the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock valued at $60,000 after buying an additional 202 shares during the period. Empowered Funds LLC grew its position in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after buying an additional 211 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Edison International by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock worth $3,818,000 after acquiring an additional 213 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in Edison International by 21.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction dated 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 transaction, the director owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Edison International Trading Down 0.1%

EIX opened at $60.68 on Friday. The company has a market cap of $23.35 billion, a P/E ratio of 7.93, a PEG ratio of 0.89 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The company’s 50 day moving average is $59.39 and its 200-day moving average is $56.46. Edison International has a 1-year low of $47.73 and a 1-year high of $62.62.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the company earned $1.51 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities research analysts predict that Edison International will post 4.95 earnings per share 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. Investors of record on Wednesday, January 7th will be given a dividend of $0.8775 per share. The ex-dividend date is Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio is presently 45.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EIX shares. Morgan Stanley restated an “underweight” rating on shares of Edison International in a research report on Wednesday. Barclays decreased their target price on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company downgraded shares of Edison International from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $56.00 to $59.00 in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.70.

Edison International Profile

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.