Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Stake in Edison International $EIX

Key Points

• Fjarde AP Fonden has reduced its stake in Edison International by 14.6%, selling 26,452 shares, resulting in ownership of 154,235 shares valued at approximately $9.1 million.
• Various institutional investors have increased their holdings in Edison International, with notable boosts from JPMorgan Chase and Canada Pension Plan Investment Board, indicating strong institutional interest in the stock.
• Analysts have mixed opinions on Edison International with a consensus rating of "Moderate Buy", while price targets range significantly, with Barclays raising its target to $65.00.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its holdings in shares of Edison International (NYSE:EIX - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,235 shares of the utilities provider's stock after selling 26,452 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Edison International were worth $9,088,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. boosted its stake in Edison International by 4.5% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,497 shares of the utilities provider's stock worth $736,000 after acquiring an additional 540 shares in the last quarter. S Bank Fund Management Ltd bought a new stake in Edison International during the first quarter worth about $2,988,000. National Pension Service lifted its stake in shares of Edison International by 16.8% in the first quarter. National Pension Service now owns 607,513 shares of the utilities provider's stock worth $35,795,000 after buying an additional 87,199 shares in the last quarter. Prudential PLC lifted its stake in shares of Edison International by 0.5% in the first quarter. Prudential PLC now owns 160,752 shares of the utilities provider's stock worth $9,472,000 after buying an additional 726 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its stake in shares of Edison International by 10.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 129,034 shares of the utilities provider's stock worth $7,587,000 after buying an additional 11,871 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EIX shares. JPMorgan Chase & Co. dropped their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Barclays upped their target price on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Morgan Stanley dropped their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.21.

Edison International Stock Performance

Shares of EIX traded down $0.4330 during mid-day trading on Wednesday, hitting $55.9170. 2,099,985 shares of the company traded hands, compared to its average volume of 3,729,819. 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 stock has a 50-day moving average price of $52.28 and a two-hundred day moving average price of $54.25. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77. The stock has a market cap of $21.52 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 1.33 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The firm's quarterly 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 analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's payout ratio is presently 48.60%.

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.