Prudential Financial Inc. Has $15.88 Million Holdings in Edison International $EIX

Prudential Financial Inc. raised its position in shares of Edison International (NYSE:EIX) by 11.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 307,793 shares of the utilities provider’s stock after buying an additional 32,659 shares during the quarter. Prudential Financial Inc. owned 0.08% of Edison International worth $15,882,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Kentucky Trust Co lifted its position in shares of Edison International by 66.7% in the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Edison International during the 1st quarter worth approximately $35,000. American National Bank & Trust acquired a new stake in Edison International during the 2nd quarter valued at $32,000. Hilltop National Bank purchased a new stake in shares of Edison International in the second quarter valued at $44,000. Finally, SouthState Corp boosted its position in shares of Edison International by 646.7% in the second quarter. SouthState Corp now owns 896 shares of the utilities provider’s stock worth $46,000 after buying an additional 776 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EIX shares. JPMorgan Chase & Co. upped their price target on Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research note on Monday. Wells Fargo & Company upgraded Edison International to a “hold” rating in a report on Tuesday, October 28th. Cowen initiated coverage on shares of Edison International in a research report on Wednesday, October 15th. They issued a “buy” rating for the company. Finally, Morgan Stanley set a $64.00 price target on shares of Edison International in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Edison International presently has a consensus rating of “Hold” and an average target price of $64.10.

Edison International Stock Performance

EIX opened at $59.18 on Thursday. 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 company has a market cap of $22.77 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85. The stock has a 50-day moving average of $56.33 and a 200-day moving average of $54.61. 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 earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.18. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, equities research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Tuesday, October 7th. Edison International’s payout ratio is presently 43.27%.

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of the firm’s 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 transaction, the director directly owned 35,212 shares in the company, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.20% of the company’s stock.

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.