Perigon Wealth Management LLC Makes New Investment in Edison International $EIX

Perigon Wealth Management LLC purchased a new stake in shares of Edison International (NYSE:EIX) in the 3rd quarter, Holdings Channel reports. The fund purchased 8,393 shares of the utilities provider’s stock, valued at approximately $464,000.

Other institutional investors have also recently made changes to their positions in the company. Paradiem LLC bought a new stake in Edison International during the third quarter valued at approximately $983,000. Burney Co. purchased a new position in shares of Edison International during the 3rd quarter worth $249,000. Polianta Ltd grew its position in shares of Edison International by 19.1% during the 3rd quarter. Polianta Ltd now owns 25,600 shares of the utilities provider’s stock valued at $1,415,000 after acquiring an additional 4,100 shares during the period. Collar Capital Management LLC purchased a new stake in shares of Edison International in the 3rd quarter worth $2,618,000. Finally, CWM LLC increased its stake in shares of Edison International by 53.2% in the 3rd quarter. CWM LLC now owns 279,061 shares of the utilities provider’s stock worth $15,426,000 after purchasing an additional 96,851 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on EIX. Cowen initiated coverage on Edison International in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. UBS Group lifted their price objective on Edison International from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. LADENBURG THALM/SH SH increased their target price on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Barclays decreased their target price on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, Morgan Stanley set a $57.00 price target on shares of Edison International in a research report on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.50.

Edison International Stock Up 1.4%

Shares of EIX opened at $60.85 on Friday. The business’s 50 day moving average is $58.21 and its 200 day moving average is $55.42. 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 12-month low of $47.73 and a 12-month high of $80.90. The company has a market capitalization of $23.41 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.88 and a beta of 0.83.

Edison International (NYSE:EIX) last announced its quarterly earnings data 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 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 company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be issued a $0.8775 dividend. The ex-dividend date is Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s payout ratio is presently 43.27%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.