Edison International $EIX Position Lifted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Edison International by 27.7%, now owning approximately 81,482 shares valued at $4.79 million.
• Edison International reported quarterly earnings of $0.97 per share, exceeding analysts' expectations of $0.88, with a year-over-year revenue increase of 4.8%.
• The company recently announced a quarterly dividend of $0.8275 per share, resulting in an annualized dividend yield of 5.9%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Edison International (NYSE:EIX - Free Report) by 27.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,482 shares of the utilities provider's stock after acquiring an additional 17,675 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Edison International were worth $4,791,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. raised its holdings in shares of Edison International by 4,633.3% during the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after purchasing an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Edison International during the first quarter worth $25,000. Investment Management Corp VA ADV raised 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 worth $25,000 after purchasing an additional 265 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Edison International during the first quarter worth $35,000. Finally, Versant Capital Management Inc raised its holdings in shares of Edison International by 96.7% during the first quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after purchasing an additional 433 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Up 1.2%

EIX stock opened at $56.23 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 $53.71 and its 200 day simple moving average is $54.66. 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 stock has a market cap of $21.64 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 1.31 and a beta of 0.80.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The company's revenue was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, sell-side analysts predict that Edison International will post 4.95 EPS 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 paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Monday, July 7th. Edison International's payout ratio is currently 48.60%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays increased their target price on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. JPMorgan Chase & Co. cut their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, UBS Group dropped their price objective on shares of Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a report on Thursday. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and an average price target of $71.15.

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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