Rockland Trust Co. Invests $451,000 in Edison International $EIX

Key Points

• Rockland Trust Co. purchased 8,747 shares of Edison International, valued at approximately $451,000, indicating strong institutional interest in the company.
• Analysts have mixed views on Edison International's stock, with price targets ranging from $55.00 to $72.15 and ratings that include seven "Buy," five "Hold," and one "Sell."
• Edison International recently reported earnings of $0.97 per share, exceeding estimates, and declared a quarterly dividend yielding 5.9%.

Rockland Trust Co. purchased a new stake in shares of Edison International (NYSE:EIX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,747 shares of the utilities provider's stock, valued at approximately $451,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of Edison International by 190.5% in the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock worth $319,169,000 after purchasing an additional 3,559,602 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after buying an additional 2,987,318 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its holdings in shares of Edison International by 197.2% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider's stock worth $258,997,000 after acquiring an additional 2,916,645 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Edison International by 38.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider's stock worth $274,485,000 after acquiring an additional 1,289,062 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Edison International by 42.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider's stock worth $234,978,000 after purchasing an additional 1,194,296 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

NYSE:EIX traded up $0.96 during mid-day trading on Tuesday, reaching $55.22. The stock had a trading volume of 740,752 shares, compared to its average volume of 4,264,320. The business has a 50 day simple moving average of $54.33 and a 200 day simple moving average of $54.73. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.31 and a beta of 0.80. Edison International has a twelve month low of $47.73 and a twelve month high of $88.64.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the business posted $1.23 EPS. The firm'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. On average, analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.0%. Edison International's dividend payout ratio (DPR) is presently 48.60%.

Analysts Set New Price Targets

A number of analysts recently issued reports on EIX shares. Barclays boosted their price target on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. UBS Group lowered their price objective on shares of Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Morgan Stanley lifted their price objective on shares of Edison International from $55.00 to $61.00 and gave the company an "underweight" rating in a report on Thursday. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Edison International has an average rating of "Hold" and an average price target of $72.15.

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.