Chicago Partners Investment Group LLC Buys New Shares in Edison International $EIX

Chicago Partners Investment Group LLC acquired a new stake in Edison International (NYSE:EIX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 8,716 shares of the utilities provider’s stock, valued at approximately $456,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TrueMark Investments LLC purchased a new position in Edison International in the second quarter worth approximately $4,523,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Edison International during the 2nd quarter worth $21,073,000. Mattson Financial Services LLC purchased a new stake in shares of Edison International during the 2nd quarter worth $238,000. Nordea Investment Management AB lifted its position in shares of Edison International by 4.6% during the 2nd quarter. Nordea Investment Management AB now owns 1,666,964 shares of the utilities provider’s stock worth $85,482,000 after purchasing an additional 73,512 shares during the last quarter. Finally, Praxis Investment Management Inc. lifted its holdings in Edison International by 30.3% during the 2nd quarter. Praxis Investment Management Inc. now owns 14,617 shares of the utilities provider’s stock worth $754,000 after buying an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on EIX shares. JPMorgan Chase & Co. lifted their price target on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Barclays boosted their target price on Edison International from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley boosted their target price on Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Cowen initiated coverage on shares of Edison International in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.45.

Edison International Price Performance

Shares of NYSE EIX opened at $58.08 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. Edison International has a twelve month low of $47.73 and a twelve month high of $88.64. The stock has a 50 day moving average of $55.33 and a two-hundred day moving average of $54.41. The stock has a market cap of $22.35 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.88 and a beta of 0.80.

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

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 5.7%. The ex-dividend date of this dividend is Tuesday, October 7th. Edison International’s dividend 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.