Kestra Investment Management LLC Purchases Shares of 11,567 Edison International $EIX

Key Points

• Kestra Investment Management LLC purchased 11,567 shares of Edison International (NYSE:EIX) for approximately $682,000, indicating institutional interest in the utilities provider.
• Several institutional investors have significantly increased their positions in Edison International, with Rakuten Securities Inc. increasing holdings by 4,633.3% during the first quarter.
• Edison International reported a quarterly EPS of $0.97, exceeding analysts' expectations, and declared a quarterly dividend of $0.8275 per share, representing an annualized yield of 6.1%.

Kestra Investment Management LLC purchased a new stake in Edison International (NYSE:EIX - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 11,567 shares of the utilities provider's stock, valued at approximately $682,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of EIX. Rakuten Securities Inc. increased its holdings in Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Edison International in the 1st quarter worth about $25,000. Investment Management Corp VA ADV increased its holdings in shares of Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after buying an additional 265 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Edison International in the 1st quarter worth about $35,000. Finally, Versant Capital Management Inc increased its holdings in shares of Edison International by 96.7% in the 1st quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after buying an additional 433 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Evercore ISI restated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Morgan Stanley restated an "overweight" rating on shares of Edison International in a report on Thursday, August 21st. Finally, Barclays boosted their target price on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.21.

Edison International Price Performance

EIX stock opened at $54.47 on Monday. Edison International has a 12 month low of $47.73 and a 12 month high of $88.64. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average price of $53.50 and a 200 day moving average price of $54.61. The stock has a market cap of $20.96 billion, a PE ratio of 8.00, a P/E/G ratio of 1.28 and a beta of 0.80.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates 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 EPS. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.1%. Edison International's payout ratio is currently 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.

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