Probity Advisors Inc. Takes $446,000 Position in Edison International $EIX

Probity Advisors Inc. purchased a new position in Edison International (NYSE:EIX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,644 shares of the utilities provider’s stock, valued at approximately $446,000.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in Edison International by 135.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider’s stock valued at $7,297,000 after purchasing an additional 71,159 shares in the last quarter. Blue Trust Inc. grew its position in Edison International by 47.0% during the first quarter. Blue Trust Inc. now owns 1,940 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 620 shares during the last quarter. Advisor Resource Council bought a new position in Edison International during the first quarter valued at approximately $288,000. Continuum Advisory LLC grew its position in Edison International by 10.9% during the first quarter. Continuum Advisory LLC now owns 5,707 shares of the utilities provider’s stock valued at $336,000 after acquiring an additional 563 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Edison International by 98.7% during the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider’s stock valued at $647,000 after acquiring an additional 5,454 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group cut shares of Edison International from a “buy” rating to a “hold” rating and reduced their price target for the company from $70.00 to $57.00 in a research report on Thursday, October 2nd. JPMorgan Chase & Co. increased their price target on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Morgan Stanley reduced their price target on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Cowen assumed coverage on shares of Edison International in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. Finally, Barclays increased their price target on shares of Edison International from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday. Seven equities 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 stock. Based on data from MarketBeat, Edison International has an average rating of “Hold” and a consensus price target of $65.65.

Edison International Stock Up 1.2%

Shares of Edison International stock opened at $58.37 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. Edison International has a 52-week low of $47.73 and a 52-week high of $88.64. The stock has a market capitalization of $22.46 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 0.98 and a beta of 0.80. The company’s 50 day moving average price is $55.30 and its 200-day moving average price is $54.38.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the business earned $1.23 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company 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. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.7%. Edison International’s dividend payout ratio (DPR) is currently 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.