In a recent transaction, Trent (NS:TREN) Keith, a director at Edison International (NYSE:NYSE:EIX), sold a fractional share of the company's common stock. The transaction, which took place on November 7, involved the sale of approximately 0.959 shares at a price of $81.67 per share, amounting to a total of $78. This sale was reported as the liquidation of a fractional share related to the transfer of shares between brokerage accounts. Following this transaction, Keith holds 16,168 shares directly.
In other recent news, Edison International reported a core earnings per share (EPS) of $1.51 for the third quarter of 2024, with a year-to-date EPS of $3.88. The company has revised its 2024 core EPS guidance to a range of $4.80 to $5.00. Ladenburg Thalmann has downgraded Edison International's stock rating from Neutral to Sell, expressing concerns over the company's ability to achieve its long-term EPS growth target of 5%-7%. Jefferies, on the other hand, initiated coverage on Edison International with a Buy rating and a price target of $93.00, indicating a total shareholder return of over 18%.
In terms of other recent developments, Edison International has reported a recovery of approximately $4.5 billion since 2021 and plans for a $1.6 billion securitization following the TKM settlement agreement. The company also anticipates electric rates to align with local inflation from 2024 to 2028 and a decrease in the total energy bill for customers by 2045.
Edison International is also planning for upcoming ERP and AMI filings within the next 6 to 12 months and sees growth in smaller data centers in California, particularly in AI-related applications. The timeline for the Woolsey case suggests a potential settlement discussion in about 18 months.
InvestingPro Insights
While the recent fractional share sale by director Trent Keith may seem minor, it's worth examining Edison International's (NYSE:EIX) broader financial picture. According to InvestingPro data, the company boasts a substantial market capitalization of $32.2 billion, reflecting its significant presence in the utility sector.
Edison International has demonstrated a commitment to shareholder returns, with InvestingPro Tips highlighting that the company has raised its dividend for 18 consecutive years and maintained dividend payments for 21 years. This consistency is particularly noteworthy in the utility sector, where stable income streams are highly valued by investors. The current dividend yield stands at 3.83%, which may be attractive to income-focused investors.
From a financial performance perspective, Edison International has shown moderate growth, with revenue increasing by 4.04% over the last twelve months to $17.32 billion. The company's profitability appears solid, with a gross profit margin of 58.32% and an operating income margin of 22.82% for the same period.
It's important to note that while Edison International operates with a significant debt burden, as pointed out by an InvestingPro Tip, the company remains profitable. This profitability, combined with its consistent dividend history, suggests a level of financial stability that may offset concerns about its debt levels.
Investors considering Edison International might find value in exploring the additional 6 InvestingPro Tips available, which could provide deeper insights into the company's financial health and market position. These tips, along with real-time metrics, can be accessed through the InvestingPro product, offering a more comprehensive analysis for informed investment decisions.
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