Edison International $EIX Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB boosted its stake in Edison International (NYSE:EIX) by 4.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,666,964 shares of the utilities provider’s stock after acquiring an additional 73,512 shares during the quarter. Nordea Investment Management AB owned 0.43% of Edison International worth $85,482,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in Edison International in the 1st quarter valued at $25,000. Investment Management Corp VA ADV grew its stake in Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 265 shares during the period. Kentucky Trust Co grew its stake in Edison International by 66.7% in the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Edison International during the 1st quarter worth $35,000. Finally, American National Bank & Trust acquired a new stake in Edison International during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of several recent research reports. TD Cowen initiated coverage on shares of Edison International in a research note on Thursday. They set a “buy” rating and a $71.00 target price on the stock. Cowen initiated coverage on shares of Edison International in a research note on Wednesday. They set a “buy” rating on the stock. Morgan Stanley lowered their target price on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research note on Wednesday, October 8th. Finally, Barclays lifted their target price 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. Seven investment 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 MarketBeat.com, Edison International has an average rating of “Hold” and an average target price of $65.25.

Edison International Stock Up 0.1%

NYSE EIX opened at $56.75 on Friday. Edison International has a 52 week low of $47.73 and a 52 week 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. The business’s fifty day simple moving average is $55.20 and its 200-day simple moving average is $54.36. The firm has a market cap of $21.84 billion, a PE ratio of 8.33, a P/E/G ratio of 0.97 and a beta of 0.80.

Edison International (NYSE:EIX) last posted 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 return on equity of 11.99% and a net margin of 16.00%.The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. The company’s quarterly 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. As a group, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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

About Edison International

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.