Mutual Advisors LLC Trims Stock Holdings in Edison International $EIX

Mutual Advisors LLC decreased its position in Edison International (NYSE:EIX) by 50.3% during the second quarter, HoldingsChannel.com reports. The firm owned 5,004 shares of the utilities provider’s stock after selling 5,065 shares during the quarter. Mutual Advisors LLC’s holdings in Edison International were worth $265,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Barnes Dennig Private Wealth Management LLC purchased a new stake in Edison International in the first quarter worth approximately $25,000. Investment Management Corp VA ADV increased its position in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock worth $25,000 after buying an additional 265 shares in the last quarter. Kentucky Trust Co increased its position in Edison International by 66.7% in the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after buying an additional 200 shares in the last quarter. American National Bank & Trust purchased a new stake in Edison International in the second quarter worth about $32,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Edison International during the first quarter worth about $35,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Up 1.2%

Shares of NYSE:EIX opened at $58.37 on Wednesday. Edison International has a 12-month low of $47.73 and a 12-month high of $88.64. The business’s fifty day simple moving average is $55.30 and its 200-day simple moving average is $54.38. 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 company has a market capitalization of $22.46 billion, a PE ratio of 8.57, a P/E/G ratio of 0.98 and a beta of 0.80.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the business earned $1.23 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, equities research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, October 7th. Edison International’s payout ratio is 48.60%.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Jefferies Financial Group cut Edison International from a “buy” rating to a “hold” rating and cut their price target for the company from $70.00 to $57.00 in a report on Thursday, October 2nd. Cowen initiated coverage on Edison International in a research note on Wednesday, October 15th. They set a “buy” rating for the company. 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 research note on Thursday, September 25th. TD Cowen initiated coverage on Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 target price for the company. Finally, UBS Group decreased their target price 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. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus target price of $65.65.

Edison International 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.