Focus Partners Wealth grew its stake in shares of Edison International (NYSE:EIX – Free Report) by 19.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,695 shares of the utilities provider’s stock after buying an additional 17,066 shares during the period. Focus Partners Wealth’s holdings in Edison International were worth $6,228,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of EIX. AQR Capital Management LLC increased its position in Edison International by 190.5% during the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock worth $319,169,000 after buying an additional 3,559,602 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after purchasing an additional 2,987,318 shares during the period. ATLAS Infrastructure Partners UK Ltd. grew its position in shares of Edison International by 197.2% in the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock valued at $258,997,000 after purchasing an additional 2,916,645 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Edison International by 38.3% in the first quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock valued at $274,485,000 after purchasing an additional 1,289,062 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Edison International by 42.7% in the first quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider’s stock valued at $234,978,000 after purchasing an additional 1,194,296 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.
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Edison International Price Performance
Shares of NYSE EIX opened at $56.27 on Monday. Edison International has a 1-year low of $47.73 and a 1-year high of $88.64. The business has a 50-day moving average of $53.79 and a 200-day moving average of $54.72. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The company has a market capitalization of $21.65 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 1.32 and a beta of 0.80.
Edison International (NYSE:EIX – Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.
Edison International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were given a $0.8275 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.9%. Edison International’s dividend payout ratio is presently 48.60%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on EIX shares. Wolfe Research downgraded Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of Edison International in a research report on Thursday, August 21st. JPMorgan Chase & Co. lowered their price objective on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, May 19th. UBS Group lowered their price objective on Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Barclays lifted their price objective on Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.15.
View Our Latest Report on EIX
Edison International Profile
(Free Report)
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.
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