Edison International $EIX Stock Position Raised by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its position in Edison International by 1,974.1%, acquiring a total of 8,089 shares worth approximately $477,000.
• Several hedge funds, including Woodline Partners LP and Semmax Financial Advisors Inc., also boosted their stakes in Edison International, indicating strong institutional interest in the stock.
• As of now, Edison International has a consensus rating of "Moderate Buy", with an average target price of $75.21 set by analysts following the company's recent earnings report.

Bayforest Capital Ltd increased its position in Edison International (NYSE:EIX - Free Report) by 1,974.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,089 shares of the utilities provider's stock after buying an additional 7,699 shares during the period. Bayforest Capital Ltd's holdings in Edison International were worth $477,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EIX. Woodline Partners LP raised its holdings in Edison International by 40.7% during the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider's stock valued at $1,927,000 after buying an additional 9,459 shares in the last quarter. Semmax Financial Advisors Inc. boosted its holdings in Edison International by 39.8% in the first quarter. Semmax Financial Advisors Inc. now owns 77,104 shares of the utilities provider's stock valued at $4,332,000 after acquiring an additional 21,967 shares during the last quarter. Empowered Funds LLC lifted its stake in Edison International by 2.4% in the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider's stock valued at $523,000 after buying an additional 211 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Edison International during the first quarter worth about $318,000. Finally, Meiji Yasuda Life Insurance Co acquired a new position in Edison International in the 1st quarter worth $456,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut 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 restated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Barclays raised 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. Finally, Morgan Stanley reissued an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Edison International currently has a consensus rating of "Moderate Buy" and an average target price of $75.21.

Edison International Trading Up 2.9%

Shares of Edison International stock opened at $54.83 on Wednesday. The company has a market capitalization of $21.10 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.25 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 has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The company has a fifty day moving average of $53.58 and a 200 day moving average of $54.62.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, sell-side analysts anticipate 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 was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio (DPR) is 48.60%.

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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