NorthRock Partners LLC Raises Position in Edison International $EIX

NorthRock Partners LLC boosted its holdings in Edison International (NYSE:EIX) by 28.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,585 shares of the utilities provider’s stock after purchasing an additional 1,026 shares during the period. NorthRock Partners LLC’s holdings in Edison International were worth $237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Edison International by 2.7% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock valued at $383,000 after purchasing an additional 196 shares in the last quarter. Kentucky Trust Co boosted its stake in Edison International by 66.7% during the 2nd 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. Empowered Funds LLC boosted its stake in Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 211 shares in the last quarter. Presima Securities ULC boosted its stake in Edison International by 2.5% during the 1st quarter. Presima Securities ULC now owns 9,174 shares of the utilities provider’s stock valued at $541,000 after purchasing an additional 224 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Edison International by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider’s stock valued at $1,047,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE:EIX opened at $56.69 on Friday. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The business has a 50-day moving average of $55.14 and a two-hundred day moving average of $54.41. The stock has a market capitalization of $21.82 billion, a P/E ratio of 8.32, a P/E/G ratio of 0.97 and a beta of 0.80. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The company 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%.The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, equities research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared 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 5.8%. The ex-dividend date is Tuesday, October 7th. Edison International’s payout ratio is currently 48.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EIX shares. TD Cowen started coverage on Edison International in a research note on Thursday. They set a “buy” rating and a $71.00 price objective for the company. 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 note on Thursday, September 25th. Jefferies Financial Group lowered Edison International from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $70.00 to $57.00 in a research note on Thursday, October 2nd. Cowen started coverage on Edison International in a research note on Wednesday. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.25.

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.