Aberdeen Group plc Purchases 79,467 Shares of Edison International $EIX

Aberdeen Group plc lifted its stake in shares of Edison International (NYSE:EIX) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,481 shares of the utilities provider’s stock after purchasing an additional 79,467 shares during the quarter. Aberdeen Group plc owned about 0.16% of Edison International worth $31,656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EIX. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Edison International by 2.7% in 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 buying an additional 196 shares during the last quarter. Kentucky Trust Co increased its stake in shares of Edison International by 66.7% during the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Empowered Funds LLC boosted its holdings in Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after buying an additional 211 shares during the period. Presima Securities ULC boosted its holdings in Edison International by 2.5% in the 1st quarter. Presima Securities ULC now owns 9,174 shares of the utilities provider’s stock worth $541,000 after buying an additional 224 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Edison International by 1.5% in the 1st quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider’s stock worth $1,047,000 after buying an additional 254 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target 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. UBS Group decreased their target price on shares of Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Barclays lifted their target price on shares of Edison International from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Morgan Stanley decreased their price objective on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Finally, Jefferies Financial Group cut shares of Edison International from a “buy” rating to a “hold” rating and decreased their price objective for the company from $70.00 to $57.00 in a research report on Thursday, October 2nd. Five 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $64.61.

Edison International Trading Down 1.7%

Shares of NYSE EIX opened at $52.17 on Monday. The firm’s 50 day moving average price is $55.08 and its 200-day moving average price is $54.43. The company has a market cap of $20.07 billion, a PE ratio of 7.66, a P/E/G ratio of 0.89 and a beta of 0.80. Edison International has a 52-week low of $47.73 and a 52-week high of $88.64. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87.

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

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, October 7th. Edison International’s dividend payout ratio is currently 48.60%.

Edison International Company 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.