Foster & Motley Inc. Decreases Position in Edison International $EIX

Foster & Motley Inc. cut its stake in Edison International (NYSE:EIX) by 17.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 66,056 shares of the utilities provider’s stock after selling 14,219 shares during the quarter. Foster & Motley Inc.’s holdings in Edison International were worth $3,408,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of EIX. Barnes Dennig Private Wealth Management LLC purchased a new position in Edison International in the 1st quarter worth approximately $25,000. Investment Management Corp VA ADV raised its position in shares of Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after buying an additional 265 shares during the period. Kentucky Trust Co raised its position in shares of Edison International by 66.7% during the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares during the period. American National Bank & Trust purchased a new stake in shares of Edison International during the 2nd quarter valued at approximately $32,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Edison International during the 1st quarter valued at approximately $35,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EIX has been the topic of several analyst reports. Cowen initiated coverage on shares of Edison International in a research report on Wednesday. They set a “buy” rating on the stock. Barclays lifted their price target on shares of Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. UBS Group reduced their price target on shares of Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Jefferies Financial Group downgraded shares of Edison International from a “buy” rating to a “hold” rating and dropped their target price for the company from $70.00 to $57.00 in a report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Edison International has an average rating of “Hold” and an average target price of $65.25.

Edison International Stock Up 0.1%

Shares of NYSE EIX opened at $56.75 on Friday. The firm has a market cap of $21.84 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.97 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. Edison International has a 52-week low of $47.73 and a 52-week high of $88.64. The business’s 50 day moving average is $55.20 and its two-hundred day moving average is $54.36.

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

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.8%. Edison International’s payout ratio is 48.60%.

Edison International Company 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.