Pallas Capital Advisors LLC Buys 23,660 Shares of Edison International $EIX

Key Points

• Pallas Capital Advisors LLC significantly increased its stake in Edison International by 76.7%, purchasing an additional 23,660 shares, bringing its total holdings to 54,488 shares valued at approximately $2.81 million.
• Edison International recently reported a quarterly EPS of $0.97, exceeding analyst expectations, and its revenue increased by 4.8% year-over-year to $4.54 billion.
• The company announced a quarterly dividend of $0.8275, which translates to an annualized dividend of $3.31 and a yield of 6.0%.

Pallas Capital Advisors LLC boosted its position in Edison International (NYSE:EIX - Free Report) by 76.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,488 shares of the utilities provider's stock after purchasing an additional 23,660 shares during the period. Pallas Capital Advisors LLC's holdings in Edison International were worth $2,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rakuten Securities Inc. boosted its holdings in shares of Edison International by 4,633.3% during the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after purchasing an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Edison International during the first quarter valued at approximately $25,000. Investment Management Corp VA ADV lifted its stake in shares of Edison International by 159.6% during the first 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 period. Zions Bancorporation National Association UT purchased a new position in shares of Edison International during the first quarter worth $35,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Edison International during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Price Performance

Shares of Edison International stock traded up $0.10 during trading on Friday, hitting $55.68. 5,571,993 shares of the company were exchanged, compared to its average volume of 3,056,457. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The firm has a 50 day moving average price of $54.26 and a 200 day moving average price of $54.75. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 1.31 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

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, topping 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 for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. Edison International'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. On average, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of analyst reports. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Morgan Stanley upped their target price on shares of Edison International from $55.00 to $61.00 and gave the company an "underweight" rating in a research note on Thursday. Barclays increased their price objective 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. Finally, UBS Group decreased their price target on shares of Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $72.15.

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.