Edison International $EIX Shares Sold by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has reduced its stake in Edison International by 78.1%, selling 6,320 shares and now holding 1,769 shares worth $91,000.
• Edison International reported $0.97 EPS for the quarter, surpassing analysts' expectations, and its revenue increased by 4.8% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.8275 per share, with a 5.8% yield, payable on October 31st to shareholders of record by October 7th.

Bayforest Capital Ltd decreased its stake in Edison International (NYSE:EIX - Free Report) by 78.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,769 shares of the utilities provider's stock after selling 6,320 shares during the quarter. Bayforest Capital Ltd's holdings in Edison International were worth $91,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Edison International during the 1st quarter valued at approximately $25,000. Investment Management Corp VA ADV increased its holdings in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after buying an additional 265 shares in the last quarter. Kentucky Trust Co raised its position in shares of Edison International by 66.7% in the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider's stock worth $26,000 after acquiring an additional 200 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Edison International during the 1st quarter worth about $35,000. Finally, American National Bank & Trust acquired a new stake in shares of Edison International during the 2nd quarter valued at about $32,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Up 0.1%

Shares of EIX opened at $56.75 on Friday. The stock has a 50 day moving average price of $55.20 and a 200 day moving average price of $54.40. 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 stock has a market capitalization of $21.84 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.97 and a beta of 0.80. Edison International has a one year low of $47.73 and a one year high of $88.64.

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, topping analysts' consensus estimates of $0.88 by $0.09. The business 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 company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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 issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, October 7th. Edison International's payout ratio is currently 48.60%.

Analyst Ratings Changes

A number of brokerages have issued reports on EIX. JPMorgan Chase & Co. increased their price target on Edison International from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Jefferies Financial Group cut shares of Edison International from a "buy" rating to a "hold" rating and dropped their price target for the company from $70.00 to $57.00 in a research note on Thursday, October 2nd. Barclays upped their price objective on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Morgan Stanley dropped their target price on shares of Edison International from $61.00 to $60.00 and set an "underweight" rating on the stock in a research report on Thursday, September 25th. Finally, TD Cowen assumed coverage on shares of Edison International in a research note on Thursday. They issued a "buy" rating and a $71.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Edison International presently has a consensus rating of "Hold" and an average price target of $65.25.

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.

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