Financial Designs Corp Takes Position in Edison International $EIX

Key Points

• Financial Designs Corp has acquired a new stake in Edison International, purchasing 14,444 shares valued at approximately $745,000, making it the 20th largest holding in their portfolio.
• Despite mixed ratings from analysts, Edison International has a current average price target of $71.75 with seven analysts rating it as a "Buy."
• Edison International recently announced a quarterly dividend of $0.8275 per share, equating to an annualized yield of 6.0% with a payout ratio of 48.60%.

Financial Designs Corp bought a new stake in Edison International (NYSE:EIX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,444 shares of the utilities provider's stock, valued at approximately $745,000. Edison International accounts for about 0.5% of Financial Designs Corp's portfolio, making the stock its 20th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Kentucky Trust Co boosted 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 buying an additional 200 shares during the period. Empowered Funds LLC raised its holdings in shares of Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider's stock worth $523,000 after acquiring an additional 211 shares in the last quarter. KWB Wealth grew its stake in shares of Edison International by 1.5% in the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after buying an additional 218 shares in the last quarter. Presima Securities ULC increased its holdings in Edison International by 2.5% in the first quarter. Presima Securities ULC now owns 9,174 shares of the utilities provider's stock worth $541,000 after buying an additional 224 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in Edison International by 1.5% during the first quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock valued at $1,047,000 after acquiring an additional 254 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

EIX has been the subject of several recent research reports. UBS Group decreased their target price on shares of Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. JPMorgan Chase & Co. increased their target price on shares of Edison International from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Barclays upped 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. Finally, Morgan Stanley reduced their target price on Edison International from $61.00 to $60.00 and set an "underweight" rating for the company in a report on Thursday. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $71.75.

Edison International Stock Performance

NYSE EIX opened at $55.00 on Friday. The company's fifty day moving average is $54.64 and its two-hundred day moving average is $54.70. Edison International has a 52-week low of $47.73 and a 52-week high of $88.64. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The firm has a market capitalization of $21.17 billion, a price-to-earnings ratio of 8.08, a P/E/G ratio of 1.29 and a beta of 0.80.

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 for the quarter, beating the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the company earned $1.23 earnings per share. The firm'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. Equities research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. Edison International's payout ratio is presently 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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