Stablepoint Partners LLC Raises Holdings in Edison International $EIX
by Kim Johansen · The Markets DailyStablepoint Partners LLC boosted its stake in shares of Edison International (NYSE:EIX – Free Report) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,419 shares of the utilities provider’s stock after buying an additional 2,109 shares during the period. Stablepoint Partners LLC’s holdings in Edison International were worth $3,788,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Edison International by 4.9% in the second quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock valued at $2,655,858,000 after purchasing an additional 2,386,562 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Edison International by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock worth $638,576,000 after buying an additional 407,039 shares during the last quarter. Invesco Ltd. lifted its position in 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after acquiring an additional 2,987,318 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Edison International by 11.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock valued at $288,599,000 after acquiring an additional 562,991 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.
Edison International Stock Performance
Shares of NYSE EIX opened at $59.08 on Friday. The company has a 50 day simple moving average of $56.47 and a two-hundred day simple moving average of $54.66. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.83 and a beta of 0.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.95. Edison International has a 12 month low of $47.73 and a 12 month high of $88.61.
Edison International (NYSE:EIX – Get Free Report) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. The firm 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, analysts predict that Edison International will post 4.95 earnings per share for the current year.
Edison International Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s payout ratio is 43.27%.
Insider Activity at Edison International
In related news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on EIX. LADENBURG THALM/SH SH increased their price objective on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Jefferies Financial Group upped their price objective on shares of Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Zacks Research upgraded shares of Edison International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, TD Cowen began coverage on shares of Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Edison International presently has an average rating of “Hold” and an average target price of $64.10.
Check Out Our Latest Stock Report on Edison International
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.
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