Redwood Investment Management LLC Makes New Investment in Edison International $EIX

Key Points

• Redwood Investment Management LLC has acquired 31,082 shares of Edison International, valued at approximately $1.83 million, as of the first quarter.
• Edison International reported $0.97 earnings per share for the recent quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 4.8%.
• The company recently declared a quarterly dividend of $0.8275, representing an annualized yield of 6.1% with a payout ratio of 48.60%.

Redwood Investment Management LLC bought a new position in shares of Edison International (NYSE:EIX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 31,082 shares of the utilities provider's stock, valued at approximately $1,831,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Edison International by 1.0% during the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock worth $2,892,003,000 after buying an additional 493,778 shares in the last quarter. Invesco Ltd. grew its position in Edison International by 19.8% during the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock worth $340,000,000 after buying an additional 953,897 shares in the last quarter. Northern Trust Corp grew its position in Edison International by 53.9% during the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after buying an additional 2,016,017 shares in the last quarter. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 2,987,318 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Edison International by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock worth $412,246,000 after purchasing an additional 371,043 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

EIX has been the subject of several recent analyst reports. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Barclays increased their price target on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Morgan Stanley reaffirmed an "overweight" rating on shares of Edison International in a research report on Thursday, August 21st. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $75.21.

Edison International Stock Up 2.6%

Shares of EIX traded up $1.43 during trading hours on Friday, hitting $56.15. The stock had a trading volume of 3,527,985 shares, compared to its average volume of 3,168,467. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $52.92 and a 200-day simple moving average of $54.40. The firm has a market capitalization of $21.61 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.75. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results 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 company 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 for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were paid a dividend of $0.8275 per share. The ex-dividend date was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.9%. Edison International's payout ratio is 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.