Ethic Inc. Cuts Position in Edison International $EIX

Key Points

• Ethic Inc. reduced its holdings in Edison International (NYSE:EIX) by 14.4%, selling 14,064 shares, and now owns 83,541 shares, valued at approximately $4.91 million.
• Edison International reported earnings of $0.97 per share for the latest quarter, exceeding expectations and demonstrating a 4.8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.8275 per share, indicating a 6.0% dividend yield and a payout ratio of 48.60%.

Ethic Inc. trimmed its holdings in shares of Edison International (NYSE:EIX - Free Report) by 14.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,541 shares of the utilities provider's stock after selling 14,064 shares during the quarter. Ethic Inc.'s holdings in Edison International were worth $4,908,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Edison International by 1.0% in the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock worth $2,892,003,000 after buying an additional 493,778 shares during the period. Invesco Ltd. grew its holdings in Edison International by 19.8% during the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock valued at $340,000,000 after buying an additional 953,897 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after buying an additional 2,016,017 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Edison International by 111.6% during the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after acquiring an additional 2,987,318 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Edison International by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock valued at $412,246,000 after acquiring an additional 371,043 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Trading Up 2.5%

Edison International stock traded up $1.35 during trading hours on Friday, hitting $55.16. The company had a trading volume of 935,380 shares, compared to its average volume of 4,383,295. 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 market cap of $21.23 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.32 and a beta of 0.75. The company has a 50-day moving average price of $52.35 and a two-hundred day moving average price of $54.26. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $4.54 billion during 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 company's revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. 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 year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were paid a dividend of $0.8275 per share. The ex-dividend date was Monday, July 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.0%. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. cut their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Barclays upped their price objective on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.