AQR Capital Management LLC Acquires 3,559,602 Shares of Edison International $EIX

Key Points

• AQR Capital Management LLC increased its stake in Edison International by 190.5% in Q1, owning approximately 1.41% of the company's stock, valued at about $319 million.
• Edison International reported $0.97 EPS for Q2, surpassing estimates, with a revenue of $4.54 billion, a 4.8% year-over-year increase.
• The company announced a quarterly dividend of $0.8275 per share, yielding 5.9%, with a payout ratio of 48.60%.

AQR Capital Management LLC boosted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 190.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,428,038 shares of the utilities provider's stock after buying an additional 3,559,602 shares during the period. AQR Capital Management LLC owned approximately 1.41% of Edison International worth $319,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EIX shares. Evercore ISI reissued an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Barclays boosted their target price on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Morgan Stanley restated an "overweight" rating on shares of Edison International in a report on Thursday, August 21st. Finally, Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Ten research 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, Edison International has a consensus rating of "Moderate Buy" and a consensus price target of $75.21.

Edison International Stock Down 1.8%

Shares of EIX traded down $0.98 during midday trading on Monday, reaching $53.47. 1,124,888 shares of the company were exchanged, compared to its average volume of 4,287,997. 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 1-year low of $47.73 and a 1-year high of $88.64. The stock has a 50-day moving average price of $53.50 and a 200-day moving average price of $54.61. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 1.28 and a beta of 0.80.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.Edison International's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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

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.