Sequoia Financial Advisors LLC Has $610,000 Stock Position in Edison International $EIX

Sequoia Financial Advisors LLC increased its stake in Edison International (NYSE:EIX) by 27.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,829 shares of the utilities provider’s stock after acquiring an additional 2,582 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Edison International were worth $610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EIX. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Edison International in the first quarter worth approximately $25,000. Investment Management Corp VA ADV lifted its stake in shares of 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 acquiring an additional 265 shares during the period. Kentucky Trust Co increased its holdings 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 purchasing an additional 200 shares in the last quarter. American National Bank & Trust bought a new stake in Edison International in the second quarter worth approximately $32,000. Finally, Zions Bancorporation National Association UT bought a new stake in Edison International in the first quarter worth approximately $35,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research analyst reports. UBS Group lowered their target price on Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Morgan Stanley lowered their target price on Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. TD Cowen initiated coverage on Edison International in a report on Thursday. They issued a “buy” rating and a $71.00 target price for the company. Jefferies Financial Group downgraded Edison International from a “buy” rating to a “hold” rating and lowered their target price for the stock from $70.00 to $57.00 in a report on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.25.

Edison International Trading Up 0.1%

NYSE EIX opened at $56.75 on Monday. The company has a market cap 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. Edison International has a 52 week low of $47.73 and a 52 week high of $88.64. The business has a 50 day moving average price of $55.20 and a 200-day moving average price of $54.33. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

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

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 annualized dividend and a yield of 5.8%. Edison International’s dividend payout ratio is 48.60%.

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.