Edison International $EIX Shares Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Edison International by 66.8%, acquiring an additional 241,600 shares, totaling approximately $35.5 million in value.
• Several institutional investors, including KWB Wealth and Private Advisor Group LLC, have also modestly increased their positions in the company during the same quarter.
• Edison International reported a $0.97 EPS for the last quarter, exceeding the consensus estimate of $0.88, along with a revenue increase of 4.8% year-over-year.

Adage Capital Partners GP L.L.C. grew its position in Edison International (NYSE:EIX - Free Report) by 66.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 603,304 shares of the utilities provider's stock after acquiring an additional 241,600 shares during the period. Adage Capital Partners GP L.L.C. owned 0.16% of Edison International worth $35,547,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. KWB Wealth lifted its stake in Edison International by 1.5% in the first quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock worth $869,000 after purchasing an additional 218 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Edison International by 1.5% during the first quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock valued at $1,047,000 after acquiring an additional 254 shares during the last quarter. Investment Management Corp VA ADV raised its stake in shares of Edison International by 159.6% during the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 265 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Edison International by 3.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 9,224 shares of the utilities provider's stock valued at $543,000 after acquiring an additional 271 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of Edison International by 11.5% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock valued at $161,000 after acquiring an additional 281 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Edison International Price Performance

NYSE:EIX traded down $1.17 during trading hours on Monday, reaching $53.29. 3,611,411 shares of the company were exchanged, compared to its average volume of 4,303,292. The stock's 50-day moving average is $53.50 and its 200-day moving average is $54.61. The firm has a market cap of $20.51 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 1.28 and a beta of 0.80. 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.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the firm posted $1.23 earnings per share. Edison International'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. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's payout ratio is currently 48.60%.

Edison International 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.