Edison International $EIX Shares Sold by State Street Corp

State Street Corp cut its holdings in shares of Edison International (NYSE:EIX) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,168,456 shares of the utilities provider’s stock after selling 1,772,585 shares during the period. State Street Corp owned approximately 0.08% of Edison International worth $1,659,892,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EIX. Kentucky Trust Co raised 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 in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Edison International in the first quarter worth $35,000. American National Bank & Trust bought a new position in shares of Edison International in the second quarter worth $32,000. Laurel Wealth Advisors LLC increased its holdings in shares of Edison International by 5,064.3% during the second quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 709 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in shares of Edison International during the second quarter valued at about $38,000. 88.95% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of Edison International stock in a transaction on Thursday, October 30th. The stock was 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 $1,946,167.24. The trade was a 4.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group increased their target price on shares of Edison International from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Morgan Stanley set a $64.00 price target on shares of Edison International in a research note on Thursday, November 20th. Zacks Research upgraded shares of Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a research note on Monday. Finally, TD Cowen started coverage on Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price for the company. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.50.

Edison International Stock Performance

NYSE:EIX opened at $57.52 on Thursday. The company has a 50-day moving average of $56.82 and a 200-day moving average of $54.65. The firm has a market cap of $22.13 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 0.85 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. Edison International has a twelve month low of $47.73 and a twelve month high of $83.05.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.16 by $0.18. The business 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%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were paid 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 dividend yield of 5.8%. Edison International’s dividend payout ratio (DPR) is currently 43.27%.

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.