Edison International $EIX Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers boosted its stake in Edison International (NYSE:EIX) by 9.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 96,244 shares of the utilities provider’s stock after acquiring an additional 8,697 shares during the quarter. Cetera Investment Advisers’ holdings in Edison International were worth $4,966,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Kentucky Trust Co lifted its holdings in Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Edison International during the second quarter worth about $32,000. Zions Bancorporation National Association UT acquired a new position in shares of Edison International during the 1st quarter worth about $35,000. Hilltop National Bank purchased a new position in Edison International in the 2nd quarter valued at about $44,000. Finally, SouthState Corp boosted its holdings in Edison International by 646.7% in the 2nd quarter. SouthState Corp now owns 896 shares of the utilities provider’s stock worth $46,000 after buying an additional 776 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Zacks Research raised Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. UBS Group dropped their price target on Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research note on Monday, November 17th. Wells Fargo & Company raised shares of Edison International to a “hold” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group increased their target price on shares of Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.10.

Edison International Stock Performance

Shares of Edison International stock opened at $59.27 on Tuesday. The business’s 50 day moving average price is $56.19 and its 200 day moving average price is $54.56. The company has a market cap of $22.81 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.83 and a beta of 0.85. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.81 and a current ratio of 0.82. Edison International has a one year low of $47.73 and a one year high of $88.64.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The company’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 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, research analysts predict 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 was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.6%. Edison International’s payout ratio is 43.27%.

Insiders Place Their Bets

In other news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

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.