Praxis Investment Management Inc. Buys 3,400 Shares of Edison International $EIX

Praxis Investment Management Inc. raised its stake in shares of Edison International (NYSE:EIX) by 30.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,617 shares of the utilities provider’s stock after acquiring an additional 3,400 shares during the quarter. Praxis Investment Management Inc.’s holdings in Edison International were worth $754,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Edison International by 1.0% during the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock valued at $2,892,003,000 after acquiring an additional 493,778 shares during the period. Invesco Ltd. lifted its holdings 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 valued at $340,000,000 after acquiring an additional 953,897 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 valued at $333,689,000 after acquiring an additional 2,987,318 shares during the period. AQR Capital Management LLC lifted its holdings in shares of 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 valued at $319,169,000 after acquiring an additional 3,559,602 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Edison International by 38.3% during 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 acquiring an additional 1,289,062 shares during the period. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

Shares of EIX stock opened at $56.75 on Friday. The stock has a 50-day moving average price of $55.20 and a 200 day moving average price of $54.40. 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 PEG ratio of 0.97 and a beta of 0.80. Edison International has a 12 month low of $47.73 and a 12 month high of $88.64.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Tuesday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 48.60%.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of research reports. Cowen initiated coverage on Edison International in a research note on Wednesday. They issued a “buy” rating for the company. Barclays raised their target price on Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. UBS Group lowered their target price on Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Jefferies Financial Group lowered Edison International from a “buy” rating to a “hold” rating and lowered their target price for the company from $70.00 to $57.00 in a research note on Thursday, October 2nd. Finally, Morgan Stanley lowered their target price on Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Seven equities 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.25.

Edison International Company 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.