Edison International $EIX Shares Purchased by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its stake in Edison International by 40.5%, acquiring an additional 173,374 shares, bringing its total holding to 601,131 shares worth approximately $35.4 million.
• Several hedge funds made notable adjustments to their positions in Edison International during the fourth quarter, with the cumulative institutional ownership reaching 88.95%.
• Edison International recently reported a quarterly earnings per share (EPS) of $0.97, exceeding estimates and reflecting a 4.8% year-over-year revenue increase.

Alliancebernstein L.P. raised its holdings in shares of Edison International (NYSE:EIX - Free Report) by 40.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 601,131 shares of the utilities provider's stock after buying an additional 173,374 shares during the period. Alliancebernstein L.P. owned about 0.16% of Edison International worth $35,419,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EIX. Algert Global LLC bought a new stake in shares of Edison International in the fourth quarter worth $292,000. Baird Financial Group Inc. increased its stake in shares of Edison International by 111.2% in the fourth quarter. Baird Financial Group Inc. now owns 4,114 shares of the utilities provider's stock worth $328,000 after buying an additional 2,166 shares during the last quarter. Captrust Financial Advisors increased its stake in Edison International by 17.1% during the fourth quarter. Captrust Financial Advisors now owns 20,812 shares of the utilities provider's stock valued at $1,662,000 after purchasing an additional 3,040 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Edison International by 42.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,222 shares of the utilities provider's stock valued at $577,000 after purchasing an additional 2,135 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in Edison International by 6.7% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,766 shares of the utilities provider's stock valued at $860,000 after purchasing an additional 679 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on EIX. Morgan Stanley reiterated an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. JPMorgan Chase & Co. lowered their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company 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. 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 research note on Monday, August 4th. Finally, Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.21.

Edison International Stock Performance

Shares of EIX opened at $53.29 on Tuesday. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 1.28 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 firm has a fifty day moving average of $53.54 and a 200-day moving average of $54.62.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly 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. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company's revenue for the quarter 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. As a group, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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

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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