Edison International $EIX Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its holdings in Edison International (NYSE:EIX) by 234.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 45,808 shares of the utilities provider’s stock after acquiring an additional 32,100 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Edison International were worth $2,364,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EIX. 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 acquiring an additional 200 shares during the last quarter. American National Bank & Trust acquired a new stake in shares of Edison International in the 2nd quarter valued at about $32,000. Zions Bancorporation National Association UT bought a new position in shares of Edison International during the first quarter worth about $35,000. Laurel Wealth Advisors LLC grew its stake in Edison International by 5,064.3% in the second quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 709 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in Edison International in the second quarter valued at about $44,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 1.6%

Shares of Edison International stock opened at $57.18 on Wednesday. Edison International has a 1-year low of $47.73 and a 1-year high of $86.48. The company has a market capitalization of $22.00 billion, a P/E ratio of 7.48, a PEG ratio of 0.87 and a beta of 0.83. The business’s fifty day moving average price is $56.58 and its two-hundred day moving average price is $54.63. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 17.24% and a return on equity of 13.62%. Edison International’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were given a $0.8275 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.8%. Edison International’s payout ratio is currently 43.27%.

Insider Buying and Selling at Edison International

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the sale, the director 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

EIX has been the subject of a number of research analyst reports. Zacks Research upgraded Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Wells Fargo & Company upgraded shares of Edison International to a “hold” rating in a research note on Tuesday, October 28th. Morgan Stanley set a $64.00 target price on Edison International in a report on Thursday, November 20th. Finally, Barclays dropped their price target on Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.50.

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.