Praxis Investment Management Inc. Has $754,000 Position in Edison International $EIX

Praxis Investment Management Inc. raised its stake in shares of Edison International (NYSE:EIX) by 30.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,617 shares of the utilities provider’s stock after purchasing an additional 3,400 shares during the period. Praxis Investment Management Inc.’s holdings in Edison International were worth $754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EIX. Barnes Dennig Private Wealth Management LLC acquired a new position in Edison International during the first quarter valued at approximately $25,000. Investment Management Corp VA ADV grew its holdings 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 valued at $25,000 after purchasing an additional 265 shares during the last quarter. Kentucky Trust Co grew 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 during the last quarter. American National Bank & Trust acquired a new position in Edison International during the second quarter valued at approximately $32,000. Finally, Zions Bancorporation National Association UT acquired a new position in Edison International during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EIX shares. Jefferies Financial Group downgraded Edison International from a “buy” rating to a “hold” rating and lowered their price target for the company from $70.00 to $57.00 in a report on Thursday, October 2nd. TD Cowen assumed coverage on Edison International in a report on Thursday. They set a “buy” rating and a $71.00 price target on the stock. Morgan Stanley reduced their price objective on Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Finally, Cowen assumed coverage on Edison International in a research report on Wednesday. They issued a “buy” rating for the company. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.25.

Edison International Stock Up 0.1%

EIX opened at $56.75 on Friday. Edison International has a 1-year low of $47.73 and a 1-year high of $88.64. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $21.84 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 0.97 and a beta of 0.80. The business has a 50 day moving average of $55.20 and a 200-day moving average of $54.40.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 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 analysts’ expectations 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 period last year, the business earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

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

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.