BNP Paribas Financial Markets Purchases 580,799 Shares of Edison International $EIX

Key Points

• BNP Paribas Financial Markets increased its stake in Edison International by 58.5% during the first quarter, holding 1,573,460 shares worth approximately $92.71 million.
• Edison International reported an EPS of $0.97, exceeding analysts' expectations of $0.88, with a revenue increase of 4.8% compared to the previous year.
• The company declared a quarterly dividend of $0.8275 per share, which corresponds to an annualized dividend yield of 5.9%.

BNP Paribas Financial Markets raised its holdings in Edison International (NYSE:EIX - Free Report) by 58.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,573,460 shares of the utilities provider's stock after buying an additional 580,799 shares during the period. BNP Paribas Financial Markets owned about 0.41% of Edison International worth $92,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Edison International by 1.0% in the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock valued at $2,892,003,000 after buying an additional 493,778 shares during the period. Invesco Ltd. raised its stake in Edison International by 19.8% in the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock valued at $340,000,000 after buying an additional 953,897 shares during the period. JPMorgan Chase & Co. raised its stake in Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after buying an additional 2,987,318 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Edison International by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock valued at $412,246,000 after buying an additional 371,043 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Edison International by 42.7% in the first quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider's stock valued at $234,978,000 after purchasing an additional 1,194,296 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

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

Edison International Price Performance

Shares of EIX traded down $0.70 during trading hours on Thursday, reaching $54.65. The stock had a trading volume of 3,639,935 shares, compared to its average volume of 2,680,996. Edison International has a 12 month low of $47.73 and a 12 month high of $88.68. The stock has a market capitalization of $21.03 billion, a PE ratio of 8.02, a PEG ratio of 1.30 and a beta of 0.80. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The company's 50-day moving average is $53.43 and its two-hundred day moving average is $54.56.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the prior year, the company earned $1.23 EPS. 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. Research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio is presently 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.