Shell Asset Management Co. Has $4.29 Million Position in Edison International $EIX

Shell Asset Management Co. grew its holdings in Edison International (NYSE:EIX) by 47.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,122 shares of the utilities provider’s stock after purchasing an additional 26,923 shares during the quarter. Shell Asset Management Co.’s holdings in Edison International were worth $4,289,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its stake in shares of Edison International by 98.7% in the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider’s stock valued at $647,000 after buying an additional 5,454 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Edison International by 135.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider’s stock valued at $7,297,000 after buying an additional 71,159 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $150,961,000 after buying an additional 145,358 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Edison International by 17.2% in the first quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider’s stock valued at $6,324,000 after buying an additional 15,718 shares during the period. Finally, Blackhawk Capital Partners LLC. bought a new stake in shares of Edison International in the first quarter valued at about $399,000. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Edison International stock opened at $53.65 on Wednesday. The business’s 50-day simple moving average is $55.05 and its 200 day simple moving average is $54.56. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 1.29 and a beta of 0.80. Edison International has a 12-month low of $47.73 and a 12-month high of $88.64. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Tuesday, October 7th. Edison International’s payout ratio is currently 48.60%.

Analyst Ratings Changes

Several research firms recently weighed in on EIX. JPMorgan Chase & Co. increased their target price on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Morgan Stanley cut their price target on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Saturday, September 27th. Barclays raised their price target on shares of Edison International from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Finally, UBS Group reduced their target price on Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.61.

Edison International 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.