Edison International $EIX Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its Edison International stake by 30.9% in Q1, selling 813,788 shares and ending with 1,817,683 shares worth about $133 million.
• Edison International reported Q1 earnings of $1.42 per share, beating analyst expectations, while revenue rose 7.7% year over year to $4.10 billion.
• The company declared a quarterly dividend of $0.8775 per share payable July 31, implying an annualized yield of 4.4%; analysts currently rate the stock a consensus Hold with an average target price of $72.64.

First Trust Advisors LP lowered its position in shares of Edison International (NYSE:EIX - Free Report) by 30.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,817,683 shares of the utilities provider's stock after selling 813,788 shares during the quarter. First Trust Advisors LP owned about 0.47% of Edison International worth $133,018,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock valued at $1,097,475,000 after buying an additional 7,521,168 shares in the last quarter. Norges Bank purchased a new position in shares of Edison International in the 4th quarter valued at $339,311,000. Goldman Sachs Group Inc. raised its stake in shares of Edison International by 41.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider's stock valued at $329,924,000 after acquiring an additional 1,609,847 shares during the period. Assetmark Inc. lifted its holdings in shares of Edison International by 1,118.0% during the 1st quarter. Assetmark Inc. now owns 1,601,327 shares of the utilities provider's stock valued at $117,185,000 after acquiring an additional 1,469,860 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Edison International by 207.0% during the 1st quarter. Swedbank AB now owns 2,073,181 shares of the utilities provider's stock valued at $151,715,000 after acquiring an additional 1,397,858 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Trading Down 1.1%

NYSE EIX opened at $79.54 on Friday. Edison International has a 1-year low of $51.01 and a 1-year high of $80.90. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $30.60 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 6.24 and a beta of 0.66. The firm's fifty day simple moving average is $73.35 and its 200-day simple moving average is $70.32.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.10. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The firm's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, sell-side analysts anticipate that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.4%. Edison International's payout ratio is currently 38.11%.

Wall Street Analyst Weigh In

Several brokerages have commented on EIX. Wells Fargo & Company restated an "underweight" rating and issued a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on Edison International from $75.00 to $76.00 and gave the stock a "neutral" rating in a research report on Friday, May 15th. Bank of America lowered their target price on Edison International from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Morgan Stanley reaffirmed an "underweight" rating and set a $69.00 target price on shares of Edison International in a research note on Wednesday. Finally, Seaport Research Partners downgraded Edison International from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Edison International has a consensus rating of "Hold" and an average target price of $72.64.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

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