Summit Investment Advisors Inc. Raises Stake in Edison International $EIX

Summit Investment Advisors Inc. grew its position in Edison International (NYSE:EIX) by 54.3% in the first quarter, HoldingsChannel.com reports. The firm owned 17,202 shares of the utilities provider’s stock after acquiring an additional 6,050 shares during the period. Summit Investment Advisors Inc.’s holdings in Edison International were worth $1,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. Charles Schwab Investment Management Inc. lifted its holdings in shares of Edison International by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider’s stock worth $150,961,000 after buying an additional 145,358 shares in the last quarter. Trilogy Capital Inc. increased its holdings in Edison International by 24.9% in the 1st quarter. Trilogy Capital Inc. now owns 46,435 shares of the utilities provider’s stock valued at $2,736,000 after acquiring an additional 9,257 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in Edison International by 64.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 85,883 shares of the utilities provider’s stock valued at $5,060,000 after acquiring an additional 33,718 shares during the last quarter. SYM FINANCIAL Corp purchased a new stake in Edison International in the 1st quarter worth $351,000. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of Edison International by 5.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock valued at $18,809,000 after purchasing an additional 18,412 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

NYSE:EIX opened at $58.70 on Thursday. The firm has a market capitalization of $22.59 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 0.83 and a beta of 0.85. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81. The business has a 50 day simple moving average of $55.67 and a 200-day simple moving average of $54.42. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64.

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

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Tuesday, October 7th. Edison International’s payout ratio is 43.27%.

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was 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 in the company, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EIX. Cowen started coverage on Edison International in a research report on Wednesday, October 15th. They issued a “buy” rating on the stock. Morgan Stanley lifted their price objective on Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. Zacks Research raised Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. TD Cowen assumed coverage on shares of Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price for the company. Finally, LADENBURG THALM/SH SH boosted their price target on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and an average price target of $64.30.

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.