RFG Bristol Wealth Advisors LLC Decreases Position in Edison International $EIX

by · The Markets Daily

RFG Bristol Wealth Advisors LLC cut its stake in Edison International (NYSE:EIXFree Report) by 15.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,827 shares of the utilities provider’s stock after selling 903 shares during the quarter. RFG Bristol Wealth Advisors LLC’s holdings in Edison International were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EIX. AQR Capital Management LLC lifted its stake 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 buying an additional 3,559,602 shares in the last quarter. JPMorgan Chase & Co. lifted its stake 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 valued at $333,689,000 after buying an additional 2,987,318 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. lifted its stake in Edison International by 197.2% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock valued at $258,997,000 after buying an additional 2,916,645 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Edison International by 38.3% in 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 buying an additional 1,289,062 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Edison International by 42.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider’s stock valued at $234,978,000 after buying an additional 1,194,296 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on EIX. JPMorgan Chase & Co. increased their price objective on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Cowen began coverage on shares of Edison International in a report on Wednesday, October 15th. They issued a “buy” rating for the company. LADENBURG THALM/SH SH increased their price objective on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. UBS Group cut their price objective on shares of Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Edison International presently has a consensus rating of “Hold” and an average target price of $64.30.

Read Our Latest Stock Report on EIX

Edison International Stock Up 2.0%

EIX stock opened at $56.80 on Thursday. The firm has a market cap of $21.86 billion, a PE ratio of 7.42, 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. The firm’s 50 day moving average price is $55.48 and its 200-day moving average price is $54.42. Edison International has a one year low of $47.73 and a one year high of $88.64.

Edison International (NYSE:EIXGet Free Report) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.16 by $0.18. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, equities research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s payout ratio is presently 43.27%.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of Edison International stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

About Edison International

(Free Report)

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.

See Also

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