Ameriprise Financial Inc. Raises Position in Edison International $EIX

Key Points

• Ameriprise Financial Inc. has increased its holdings in Edison International by 42.7%, acquiring an additional 1,194,296 shares, bringing its total ownership to approximately 3,988,091 shares valued at $234,978,000.
• Various institutional investors have also boosted their positions in Edison International, with institutional ownership now at 88.95% of the company's stock.
• The company declared a quarterly dividend of $0.8275 per share, resulting in a 6.0% annual yield and reflecting a dividend payout ratio of 48.60%.

Ameriprise Financial Inc. boosted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 42.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,988,091 shares of the utilities provider's stock after buying an additional 1,194,296 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.04% of Edison International worth $234,978,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bellwether Advisors LLC purchased a new position in Edison International during the fourth quarter valued at approximately $34,000. Rakuten Securities Inc. lifted its holdings in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Edison International during the first quarter valued at $25,000. Investment Management Corp VA ADV grew its holdings 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 buying an additional 265 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Edison International during the first quarter valued at $35,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Down 1.0%

Shares of Edison International stock traded down $0.53 during mid-day trading on Thursday, hitting $54.85. The stock had a trading volume of 536,108 shares, compared to its average volume of 4,335,862. The firm has a 50-day moving average of $52.84 and a two-hundred day moving average of $54.37. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market cap of $21.11 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.75.

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

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were given a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.0%. Edison International's dividend payout ratio (DPR) is presently 48.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EIX shares. Barclays upped their price target 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. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Morgan Stanley restated an "overweight" rating on shares of Edison International in a research report on Thursday, August 21st. JPMorgan Chase & Co. reduced their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Finally, Evercore ISI restated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Edison International has an average rating of "Moderate Buy" and a consensus price target of $75.21.

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.