Erica S. Bowman, Vice President at Edison International (NYSE:EIX), recently sold a fractional share of the company's common stock. The transaction, which took place on November 22, 2024, involved the liquidation of 0.478 shares at a price of $87.88 per share, totaling approximately $42. This sale was part of a transfer of shares between broker accounts. Following this transaction, Bowman holds 1,287 shares directly. These holdings include shares acquired through dividend reinvestment, which are exempt from certain reporting requirements.
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. Significant progress in regulatory proceedings and a commitment to achieving net zero greenhouse gas emissions by 2045 were also highlighted.
Investment banking firm Jefferies recently initiated coverage on Edison International with a Buy rating and a price target of $93.00. The firm's analysis suggests an 18% total shareholder return, driven by an estimated EPS compound annual growth rate of 7%. On the other hand, Ladenburg Thalmann has downgraded the company's stock from Neutral to Sell, citing concerns over the company's ability to achieve its long-term EPS growth target of 5%-7%.
In other company developments, Edison International has recovered approximately $4.5 billion since 2021 and plans for a $1.6 billion securitization following the TKM settlement agreement. The company also projects electric rates to align with local inflation from 2024 to 2028 and expects a decrease in the total energy bill for customers by 2045. In the next 6 to 12 months, Edison International is preparing for upcoming ERP and AMI filings.
InvestingPro Insights
As Edison International (NYSE:EIX) continues to attract investor attention, recent data from InvestingPro provides additional context to the company's financial position and market performance.
Edison International's stock has shown robust performance, with a one-year price total return of 37.01% as of the latest data. This strong performance has brought the stock price to 97.79% of its 52-week high, indicating significant momentum in the market.
The company's financial health appears solid, with revenue growth of 4.04% over the last twelve months and a quarterly revenue growth of 10.61% in Q3 2024. This growth is complemented by a healthy EBITDA growth of 10.46% over the same period, suggesting improving operational efficiency.
For income-focused investors, Edison International offers an attractive dividend yield of 3.61%. An InvestingPro Tip highlights that the company has raised its dividend for 18 consecutive years, demonstrating a strong commitment to shareholder returns. This consistent dividend growth, coupled with the company's profitability over the last twelve months, may provide some reassurance to investors like Vice President Erica S. Bowman, who holds shares directly.
However, it's worth noting that Edison International operates with a significant debt burden, according to another InvestingPro Tip. This factor may influence the company's financial flexibility and risk profile, which could be relevant to both current shareholders and potential investors.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Edison International, providing deeper insights into the company's financial health and market position. These additional tips can be valuable for investors looking to make informed decisions about their EIX holdings or potential investments.
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