Tobam Has $45,000 Stake in Edison International $EIX

Tobam cut its position in shares of Edison International (NYSE:EIX) by 92.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 869 shares of the utilities provider’s stock after selling 10,411 shares during the quarter. Tobam’s holdings in Edison International were worth $45,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Quinn Opportunity Partners LLC grew its holdings in Edison International by 9.9% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 88,925 shares of the utilities provider’s stock worth $4,589,000 after acquiring an additional 8,000 shares during the period. National Pension Service lifted its stake in Edison International by 0.7% in the second quarter. National Pension Service now owns 611,793 shares of the utilities provider’s stock valued at $31,569,000 after buying an additional 4,280 shares during the period. Vise Technologies Inc. bought a new position in shares of Edison International during the 2nd quarter worth approximately $520,000. Allworth Financial LP grew its position in shares of Edison International by 20.0% during the 2nd quarter. Allworth Financial LP now owns 20,949 shares of the utilities provider’s stock worth $1,081,000 after buying an additional 3,486 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Edison International by 11.8% during the 2nd quarter. ProShare Advisors LLC now owns 125,786 shares of the utilities provider’s stock valued at $6,491,000 after acquiring an additional 13,295 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX opened at $58.70 on Thursday. The company has a market capitalization of $22.59 billion, a PE ratio of 7.67, a PEG ratio of 0.83 and a beta of 0.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The stock’s 50 day moving average price is $55.67 and its 200-day moving average price is $54.42. Edison International has a twelve month low of $47.73 and a twelve month high of $88.64.

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

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 7th were paid a $0.8275 dividend. The ex-dividend date was Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.6%. Edison International’s dividend payout ratio is presently 43.27%.

Analysts Set New Price Targets

EIX has been the subject of several research analyst reports. Zacks Research raised shares of Edison International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. raised their target price on Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. TD Cowen assumed coverage on Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 price target on the stock. LADENBURG THALM/SH SH increased their price target on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Barclays decreased their price objective on Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.30.

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

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.