Ieq Capital LLC Has $14.05 Million Holdings in Edison International $EIX

Key Points

• Ieq Capital LLC increased its holdings in Edison International by 1,164.4% in the 1st quarter, acquiring 219,560 additional shares for a total of 238,416 shares valued at approximately $14 million.
• JPMorgan Chase & Co. and Allianz Asset Management GmbH also significantly increased their holdings, with JPMorgan raising its investment by 111.6% and Allianz by 1,946.0%.
• Edison International's stock currently has a consensus price target of $75.21 and has a dividend yield of 6.0% based on the most recent quarterly distribution.

Ieq Capital LLC grew its stake in shares of Edison International (NYSE:EIX - Free Report) by 1,164.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 238,416 shares of the utilities provider's stock after buying an additional 219,560 shares during the quarter. Ieq Capital LLC owned approximately 0.06% of Edison International worth $14,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. grew its stake 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 buying an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Edison International during the first quarter worth $25,000. Investment Management Corp VA ADV grew its stake 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 buying an additional 265 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Edison International during the first quarter worth $35,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Edison International during the fourth quarter worth $56,000. Institutional investors own 88.95% of the company's stock.

Edison International Stock Up 2.6%

Shares of NYSE EIX traded up $1.43 during trading on Monday, hitting $56.15. 3,527,985 shares of the company traded hands, compared to its average volume of 3,089,745. The business's fifty day moving average is $53.05 and its 200 day moving average is $54.47. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.77. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of 8.24, a P/E/G 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 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. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The business's quarterly 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. Equities research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were issued a dividend of $0.8275 per share. The ex-dividend date was Monday, July 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.9%. Edison International's dividend payout ratio is currently 48.60%.

Analysts Set New Price Targets

EIX has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Barclays boosted their target price on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Morgan Stanley restated an "overweight" rating on shares of Edison International in a report on Thursday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $75.21.

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.