Brighton Jones LLC Makes New Investment in Edison International $EIX

Brighton Jones LLC acquired a new position in shares of Edison International (NYSE:EIX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 25,370 shares of the utilities provider’s stock, valued at approximately $1,309,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Edison International in the first quarter valued at about $25,000. Investment Management Corp VA ADV boosted its position in Edison International by 159.6% during the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 265 shares during the period. Kentucky Trust Co boosted its position in Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares during the period. American National Bank & Trust bought a new position in Edison International during the second quarter worth about $32,000. Finally, Zions Bancorporation National Association UT bought a new position in Edison International during the first quarter worth about $35,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

EIX opened at $56.96 on Tuesday. The stock has a 50-day moving average price of $55.43 and a 200-day moving average price of $54.48. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The firm has a market cap of $21.92 billion, a PE ratio of 8.36, a P/E/G ratio of 0.87 and a beta of 0.80. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64.

Edison International (NYSE:EIX) last posted its quarterly 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. The firm had revenue of $4.54 billion during 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%.Edison International’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on EIX shares. Cowen initiated coverage on shares of Edison International in a research report on Wednesday, October 15th. They issued a “buy” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research note on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. TD Cowen assumed coverage on shares of Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price on the stock. Finally, Barclays raised their target price on shares of Edison International from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.55.

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.