Consolidated Portfolio Review Corp Takes Position in Edison International $EIX

Key Points

• Consolidated Portfolio Review Corp has acquired 6,927 shares of Edison International for approximately $357,000 in the second quarter, joining other hedge funds that have increased their stakes in the company.
• Edison International reported earnings of $0.97 per share for the last quarter, beating estimates, with a revenue of $4.54 billion, reflecting a year-over-year increase of 4.8%.
• The company announced a quarterly dividend of $0.8275, which yields 6.1%, set to be paid on October 31st to stockholders of record as of October 7th.

Consolidated Portfolio Review Corp bought a new position in shares of Edison International (NYSE:EIX - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,927 shares of the utilities provider's stock, valued at approximately $357,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Edison International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock valued at $2,892,003,000 after purchasing an additional 493,778 shares during the last quarter. Invesco Ltd. increased its stake in shares of Edison International by 19.8% during 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 holdings in shares of Edison International by 111.6% during the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after acquiring an additional 2,987,318 shares in the last quarter. AQR Capital Management LLC lifted its stake in Edison International by 190.5% in the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock worth $319,169,000 after acquiring an additional 3,559,602 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Edison International by 38.3% in the first quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider's stock valued at $274,485,000 after acquiring an additional 1,289,062 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Price Performance

Shares of EIX opened at $54.42 on Friday. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The firm's 50-day simple moving average is $54.93 and its two-hundred day simple moving average is $54.67. The stock has a market cap of $20.94 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 1.32 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.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) 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 net margin of 16.00% and a return on equity of 11.99%. The business's revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be 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 of this dividend is Tuesday, October 7th. Edison International's dividend payout ratio is currently 48.60%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Morgan Stanley decreased their price target on shares of Edison International from $61.00 to $60.00 and set an "underweight" rating for the company in a research note on Thursday, September 25th. UBS Group cut their price objective on Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Barclays increased their target price on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on Edison International from $67.00 to $68.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $68.15.

About Edison International

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.

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