Cerity Partners LLC Has $22.16 Million Stock Holdings in Edison International $EIX

Cerity Partners LLC increased its stake in shares of Edison International (NYSE:EIX) by 46.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,367 shares of the utilities provider’s stock after buying an additional 136,652 shares during the period. Cerity Partners LLC’s holdings in Edison International were worth $22,155,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Edison International in the second quarter worth about $268,801,000. AQR Capital Management LLC increased its holdings in shares of Edison International by 190.5% in the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after purchasing an additional 3,559,602 shares in the last quarter. JPMorgan Chase & Co. raised its position in Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after purchasing an additional 2,987,318 shares during the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its position in Edison International by 197.2% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock worth $258,997,000 after purchasing an additional 2,916,645 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Edison International by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after buying an additional 2,386,562 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the business’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 value of $99,486.00. Following the completion of the transaction, the director directly owned 35,212 shares in the company, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EIX. Cowen began coverage on Edison International in a research report on Wednesday, October 15th. They set a “buy” rating for the company. JPMorgan Chase & Co. lifted their price objective on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. LADENBURG THALM/SH SH upped their target price on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. UBS Group lifted their price target on shares of Edison International from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Finally, Morgan Stanley set a $64.00 price objective on shares of Edison International in a report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.50.

Edison International Price Performance

Edison International stock opened at $56.63 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $21.79 billion, a P/E ratio of 7.40, a PEG ratio of 0.84 and a beta of 0.83. The business has a 50-day moving average of $56.80 and a 200-day moving average of $54.63. Edison International has a 1 year low of $47.73 and a 1 year high of $83.07.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the company posted $1.51 EPS. Edison International’s revenue for the quarter 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, equities analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 7th were paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 43.27%.

Edison International Company 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.