OP Asset Management Ltd bought a new stake in Edison International (NYSE:EIX – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 40,295 shares of the utilities provider’s stock, valued at approximately $2,949,000.
Other institutional investors also recently bought and sold shares of the company. 10Elms LLP bought a new position in Edison International during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC lifted its position in Edison International by 170.3% in the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 281 shares during the last quarter. Ransom Advisory Ltd lifted its position in Edison International by 74.9% in the fourth quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. Ameriflex Group Inc. boosted its stake in shares of Edison International by 100.0% during the third quarter. Ameriflex Group Inc. now owns 742 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 371 shares during the period. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Edison International by 866.7% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 702 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
EIX has been the topic of several analyst reports. Morgan Stanley reaffirmed an “underweight” rating on shares of Edison International in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Barclays decreased their price objective on shares of Edison International from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 15th. Finally, Bank of America dropped their target price on shares of Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.64.
Edison International Price Performance
EIX stock opened at $75.58 on Friday. Edison International has a 1 year low of $49.14 and a 1 year high of $76.21. The company has a market cap of $29.08 billion, a P/E ratio of 8.21, a PEG ratio of 1.31 and a beta of 0.67. The firm has a 50-day moving average of $70.83 and a 200 day moving average of $67.98. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68.
Edison International (NYSE:EIX – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm posted $1.37 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, sell-side analysts forecast that Edison International will post 6.12 EPS for the current year.
Edison International Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. The ex-dividend date is Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 4.6%. Edison International’s payout ratio is currently 38.11%.
Insider Buying and Selling at Edison International
In related news, Director Peter J. Taylor sold 500 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $75.30, for a total value of $37,650.00. Following the sale, the director directly owned 34,212 shares of the company’s stock, valued at $2,576,163.60. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by corporate insiders.
About Edison International
Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.
The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.
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