Andra AP fonden Has $13.30 Million Stock Holdings in Edison International $EIX

Key Points

• Andra AP fonden cut its Edison International stake by 32.6% in the second quarter, selling 86,400 shares and retaining 178,596 shares valued at approximately $13.3 million.
• Analyst sentiment is broadly negative: Edison International has a consensus “Reduce” rating and a $64 price target after several brokerages lowered their targets, with estimates ranging from $53 to $70.
• The stock opened at $55.10, near its 52-week low of $52.00. Although quarterly EPS of $1.54 exceeded expectations, revenue fell 4.1% year over year to $4.36 billion.

Andra AP fonden trimmed its stake in Edison International (NYSE:EIX - Free Report) by 32.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 178,596 shares of the utilities provider's stock after selling 86,400 shares during the period. Andra AP fonden's holdings in Edison International were worth $13,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EIX. Sequoia Financial Advisors LLC increased its stake in Edison International by 36.3% during the second quarter. Sequoia Financial Advisors LLC now owns 41,760 shares of the utilities provider's stock valued at $3,109,000 after acquiring an additional 11,131 shares during the period. IPG Investment Advisors LLC bought a new position in shares of Edison International in the second quarter valued at about $1,866,000. Cidel Asset Management Inc. lifted its position in shares of Edison International by 3.0% during the second quarter. Cidel Asset Management Inc. now owns 6,088 shares of the utilities provider's stock worth $453,000 after purchasing an additional 178 shares in the last quarter. RFG Advisory LLC bought a new position in Edison International in the 2nd quarter valued at $273,000. Finally, NewEdge Advisors LLC boosted its holdings in Edison International by 26.0% in the second quarter. NewEdge Advisors LLC now owns 92,552 shares of the utilities provider's stock valued at $6,890,000 after acquiring an additional 19,090 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on EIX. Morgan Stanley dropped their target price on shares of Edison International from $65.00 to $60.00 and set an "underweight" rating for the company in a research report on Friday. Truist Financial cut their price objective on Edison International from $77.00 to $63.00 and set a "hold" rating on the stock in a report on Thursday, September 3rd. Mizuho reissued a "neutral" rating and set a $70.00 price objective (down from $86.00) on shares of Edison International in a research report on Monday, August 31st. JPMorgan Chase & Co. decreased their price objective on Edison International from $82.00 to $61.00 and set a "neutral" rating for the company in a report on Wednesday, September 2nd. Finally, Jefferies Financial Group dropped their price objective on Edison International from $68.00 to $53.00 and set a "hold" rating on the stock in a research note on Monday, September 14th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $64.00.

Edison International Price Performance

Edison International stock opened at $55.10 on Wednesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 2.21 and a beta of 0.62. The stock's 50 day moving average price is $67.94 and its two-hundred day moving average price is $70.47. Edison International has a 52-week low of $52.00 and a 52-week high of $81.62.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The business's revenue was down 4.1% compared to the same quarter last year. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, equities analysts predict that Edison International will post 6.13 earnings per share for the current year.

Edison International Profile

Edison International NYSE: EIX is a holding company focused on electric power generation, transmission and distribution, as well as clean-energy solutions. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that delivers electricity to residential, commercial, industrial and public-sector customers.

SCE operates one of the largest electric utility systems in the United States, serving communities across central, coastal and Southern California.

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