Mitsubishi UFJ Trust & Banking Corp Decreases Stake in Edison International $EIX

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Edison International (NYSE:EIX) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 409,806 shares of the utilities provider’s stock after selling 6,637 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.11% of Edison International worth $21,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of EIX. Investment Management Corp VA ADV lifted its stake in Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 265 shares during the period. Kentucky Trust Co raised its holdings in shares of 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. Zions Bancorporation National Association UT purchased a new position in shares of Edison International during the first quarter valued at approximately $35,000. American National Bank & Trust bought a new position in Edison International during the second quarter valued at approximately $32,000. Finally, Hilltop National Bank purchased a new stake in Edison International in the second quarter worth approximately $44,000. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EIX. 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 target price for the company. Barclays cut their price objective on Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Tuesday. Zacks Research raised Edison International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, UBS Group reduced their price target on shares of Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $64.30.

Edison International Stock Performance

NYSE:EIX opened at $58.72 on Friday. 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 stock has a 50-day simple moving average of $55.84 and a two-hundred day simple moving average of $54.46. The firm has a market capitalization of $22.60 billion, a PE ratio of 7.68, a P/E/G ratio of 0.83 and a beta of 0.85. Edison International has a 52-week low of $47.73 and a 52-week high of $88.64.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, topping the consensus estimate of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the company earned $1.51 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were issued a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 annualized dividend and a yield of 5.6%. Edison International’s payout ratio is currently 43.27%.

Insider Buying and Selling at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

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.