Summit Investment Advisors Inc. Acquires 6,050 Shares of Edison International $EIX

Summit Investment Advisors Inc. lifted its stake in Edison International (NYSE:EIX) by 54.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,202 shares of the utilities provider’s stock after purchasing an additional 6,050 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Edison International were worth $1,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Vanguard Group Inc. boosted its stake in Edison International by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock worth $2,892,003,000 after purchasing an additional 493,778 shares in the last quarter. Invesco Ltd. increased its position in shares of Edison International by 19.8% during the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock valued at $340,000,000 after acquiring an additional 953,897 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after acquiring an additional 2,987,318 shares during the last quarter. AQR Capital Management LLC lifted its position in Edison International by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after acquiring an additional 3,559,602 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Edison International by 38.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock valued at $274,485,000 after purchasing an additional 1,289,062 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

EIX opened at $58.70 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.95. The company has a market cap of $22.59 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 0.83 and a beta of 0.85. The company’s 50 day moving average is $55.67 and its 200 day moving average is $54.42. Edison International has a 12-month low of $47.73 and a 12-month high of $88.64.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior 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 research analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

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

Insider Buying and Selling

In related news, Director Peter J. Taylor sold 1,800 shares of Edison International stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the transaction, the director directly owned 35,212 shares in the company, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research analyst reports. UBS Group lowered their price target on Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Cowen initiated coverage on shares of Edison International in a report on Wednesday, October 15th. They set a “buy” rating on the stock. Barclays decreased their price objective on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Jefferies Financial Group raised their target price on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley lifted their target price on shares of Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.30.

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.