Gabelli Funds LLC Trims Stake in Edison International $EIX

Gabelli Funds LLC cut its position in shares of Edison International (NYSE:EIX) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 280,700 shares of the utilities provider’s stock after selling 13,900 shares during the period. Gabelli Funds LLC owned approximately 0.07% of Edison International worth $14,484,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EIX. Kentucky Trust Co boosted its position in shares of Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares during the period. American National Bank & Trust purchased a new position in Edison International during the 2nd quarter valued at $32,000. Zions Bancorporation National Association UT bought a new position in Edison International in the 1st quarter valued at $35,000. Laurel Wealth Advisors LLC grew its position in Edison International by 5,064.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 709 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in Edison International in the second quarter worth $44,000. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $64.00 target price on shares of Edison International in a research note on Thursday, November 20th. Wall Street Zen downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays decreased their price target on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a report on Monday, December 1st. Finally, TD Cowen initiated coverage on Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.50.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $55.96 on Tuesday. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 0.87 and a beta of 0.83. Edison International has a 52-week low of $47.73 and a 52-week high of $84.21. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The company’s 50 day moving average is $56.77 and its 200 day moving average is $54.63.

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 analysts’ consensus estimates of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business earned $1.51 earnings per share. Edison International’s revenue was up 10.6% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were issued a $0.8275 dividend. The ex-dividend date was Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.9%. Edison International’s payout ratio is currently 43.27%.

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.