Edison International $EIX Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A has reduced its holdings in Edison International by 4.7%, now owning 133,630 shares worth approximately $7.87 million after selling 6,598 shares in the first quarter.
• Edison International reported an earnings per share (EPS) of $0.97 for the last quarter, surpassing analyst estimates of $0.88, and its revenue grew by 4.8% year-over-year to $4.54 billion.
• The company has announced a quarterly dividend of $0.8275, offering a yield of 6.1%, with an annualized payout of $3.31.

Credit Agricole S A cut its holdings in shares of Edison International (NYSE:EIX - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,630 shares of the utilities provider's stock after selling 6,598 shares during the period. Credit Agricole S A's holdings in Edison International were worth $7,873,000 as of its most recent SEC filing.

Other large investors 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 valued at $25,000 after acquiring an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Edison International during the first quarter valued at about $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 valued at $25,000 after acquiring an additional 265 shares in the last quarter. Bellwether Advisors LLC acquired a new stake in shares of Edison International during the fourth quarter valued at about $34,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Edison International during the first quarter valued at about $35,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of NYSE EIX opened at $53.8470 on Friday. 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 firm's 50-day moving average price is $52.35 and its two-hundred day moving average price is $54.26. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The stock has a market capitalization of $20.72 billion, a P/E ratio of 7.91, a P/E/G ratio of 1.32 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last issued 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. 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 analysts' expectations of $4.52 billion. During the same quarter last year, the company posted $1.23 earnings per share. Edison International'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 forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders 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 dividend on an annualized basis and a yield of 6.1%. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EIX shares. JPMorgan Chase & Co. lowered their target price on 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. Morgan Stanley decreased their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Barclays lifted their price target on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Edison International currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.