CreativeOne Wealth LLC Increases Position in Edison International $EIX

CreativeOne Wealth LLC raised its position in shares of Edison International (NYSE:EIX) by 23.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,126 shares of the utilities provider’s stock after purchasing an additional 1,370 shares during the period. CreativeOne Wealth LLC’s holdings in Edison International were worth $368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in Edison International by 2.7% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock worth $383,000 after buying an additional 196 shares during the last quarter. Kentucky Trust Co raised its stake 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 worth $26,000 after acquiring an additional 200 shares in the last quarter. MAI Capital Management raised its stake in shares of Edison International by 20.8% during the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 202 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 211 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Edison International by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock valued at $3,818,000 after purchasing an additional 213 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $99,486.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Edison International Trading Down 0.1%

EIX opened at $59.08 on Monday. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.83 and a beta of 0.85. Edison International has a one year low of $47.73 and a one year high of $88.61. The business has a 50 day simple moving average of $56.47 and a two-hundred day simple moving average of $54.63. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 5.6%. Edison International’s payout ratio is presently 43.27%.

Analysts Set New Price Targets

A number of equities analysts recently commented on EIX shares. Jefferies Financial Group lifted their target price on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. TD Cowen initiated coverage on Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price objective on the stock. Zacks Research upgraded Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price target on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Finally, Wells Fargo & Company upgraded Edison International to a “hold” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Edison International has an average rating of “Hold” and an average price target of $64.10.

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.