Edison International $EIX Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has reduced its stake in Edison International by 30.9%, owning 13,003 shares valued at approximately $766,000 as of its latest SEC filing.
• Edison International reported a quarterly earnings per share (EPS) of $0.97, surpassing the analysts' expectations of $0.88, with a revenue of $4.54 billion for the quarter.
• The company has declared a quarterly dividend of $0.8275 per share, representing an annualized dividend of $3.31 and a dividend yield of 6.0%.

AlphaQuest LLC reduced its stake in shares of Edison International (NYSE:EIX - Free Report) by 30.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,003 shares of the utilities provider's stock after selling 5,823 shares during the quarter. AlphaQuest LLC's holdings in Edison International were worth $766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIX. Rakuten Securities Inc. grew its stake in shares of Edison International by 4,633.3% during the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after buying an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Edison International in the first quarter worth about $25,000. Investment Management Corp VA ADV grew its stake in shares of Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Bellwether Advisors LLC bought a new stake in shares of Edison International in the fourth quarter worth about $34,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Edison International in the first quarter worth about $35,000. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Edison International Price Performance

Shares of NYSE EIX traded down $0.66 during mid-day trading on Thursday, hitting $54.72. 1,836,312 shares of the company's stock traded hands, compared to its average volume of 4,344,044. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77. The company has a market capitalization of $21.06 billion, a P/E ratio of 8.04, a PEG ratio of 1.29 and a beta of 0.75. The company's 50-day moving average is $52.84 and its two-hundred day moving average is $54.37.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced 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 6.0%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio (DPR) is 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.