AustralianSuper Pty Ltd Sells 285,058 Shares of Edison International $EIX

AustralianSuper Pty Ltd lowered its stake in shares of Edison International (NYSE:EIX) by 59.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,883 shares of the utilities provider’s stock after selling 285,058 shares during the quarter. AustralianSuper Pty Ltd owned about 0.05% of Edison International worth $10,056,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EIX. AQR Capital Management LLC grew its position in 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 worth $319,169,000 after buying an additional 3,559,602 shares in the last quarter. JPMorgan Chase & Co. grew its position in 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 in the last quarter. ATLAS Infrastructure Partners UK Ltd. grew its position in Edison International by 197.2% during the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock worth $258,997,000 after buying an additional 2,916,645 shares in the last quarter. Canada Pension Plan Investment Board grew its position in 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 worth $274,485,000 after buying an additional 1,289,062 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Edison International by 42.7% during the first quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider’s stock worth $234,978,000 after buying an additional 1,194,296 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Down 1.5%

Shares of EIX stock opened at $56.96 on Tuesday. The stock’s fifty day moving average price is $55.43 and its two-hundred day moving average price is $54.48. The company has a market cap of $21.92 billion, a PE ratio of 8.36, a P/E/G ratio of 0.87 and a beta of 0.80. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter last year, the business posted $1.23 EPS. The company’s 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. Equities analysts predict that Edison International will post 4.95 EPS for the current fiscal 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 issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.8%. Edison International’s dividend payout ratio (DPR) is 48.60%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays increased their price target on Edison International from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. increased their price target on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. TD Cowen started coverage on Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 price target on the stock. Morgan Stanley raised their target price on Edison International from $60.00 to $66.00 and gave the company an “underweight” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company started coverage on Edison International in a report on Monday. They issued an “overweight” rating and a $56.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus price target of $64.55.

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.