Edison International $EIX Position Raised by TD Asset Management Inc

TD Asset Management Inc lifted its position in shares of Edison International (NYSE:EIX) by 67.5% in the 2nd quarter, Holdings Channel reports. The fund owned 323,320 shares of the utilities provider’s stock after buying an additional 130,289 shares during the period. TD Asset Management Inc’s holdings in Edison International were worth $16,683,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Edison International by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock worth $2,892,003,000 after purchasing an additional 493,778 shares during the last quarter. Invesco Ltd. boosted its position in shares of Edison International by 19.8% during the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock worth $340,000,000 after buying an additional 953,897 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Edison International by 111.6% during the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after buying an additional 2,987,318 shares during the period. AQR Capital Management LLC grew its holdings in Edison International by 190.5% in the 1st 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. Finally, Canada Pension Plan Investment Board increased its position in Edison International by 38.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock valued at $274,485,000 after acquiring an additional 1,289,062 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EIX. Morgan Stanley reduced their price target on Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Wednesday, October 8th. UBS Group decreased their target price on shares of Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Jefferies Financial Group downgraded shares of Edison International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $70.00 to $57.00 in a research report on Thursday, October 2nd. Finally, Cowen assumed coverage on shares of Edison International in a research note on Wednesday. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $65.25.

Edison International Trading Up 0.1%

Shares of Edison International stock opened at $56.75 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market cap of $21.84 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.80. The business has a fifty day simple moving average of $55.20 and a 200-day simple moving average of $54.40. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the previous year, the business earned $1.23 earnings per share. Edison International’s revenue for the quarter 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 forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be given a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 annualized dividend and a yield of 5.8%. Edison International’s payout ratio is 48.60%.

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.