Perpetual Ltd Takes $674,000 Position in Edison International $EIX

Key Points

• Perpetual Ltd has purchased a new stake in Edison International valued at approximately $674,000, acquiring 13,057 shares in the second quarter.
• Recently, several hedge funds have increased their positions in Edison International, with Two Sigma Investments LP notably raising their stake by 263.8% in the fourth quarter.
• Edison International recently announced a quarterly dividend of $0.8275 per share, reflecting a 5.9% dividend yield and an annualized amount of $3.31.

Perpetual Ltd acquired a new stake in Edison International (NYSE:EIX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,057 shares of the utilities provider's stock, valued at approximately $674,000.

Several other institutional investors have also recently made changes to their positions in EIX. Vanguard Group Inc. raised its position in Edison International by 1.0% during the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock valued at $2,892,003,000 after purchasing an additional 493,778 shares in the last quarter. Invesco Ltd. lifted its holdings in Edison International by 19.8% in the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock worth $340,000,000 after buying an additional 953,897 shares during the period. JPMorgan Chase & Co. lifted its holdings in Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after buying an additional 2,987,318 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Edison International by 190.5% during the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock valued at $319,169,000 after purchasing an additional 3,559,602 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Edison International by 38.3% during the first quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider's stock valued at $274,485,000 after purchasing an additional 1,289,062 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Trading Down 2.4%

NYSE:EIX traded down $1.32 during mid-day trading on Monday, hitting $54.32. 3,945,030 shares of the stock traded hands, compared to its average volume of 4,283,842. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.31 and a beta of 0.80. Edison International has a 52 week low of $47.73 and a 52 week high of $88.64. The firm's 50 day moving average is $54.26 and its two-hundred day moving average is $54.75. 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 issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $4.54 billion for 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 firm's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, equities research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 6.1%. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of recent 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. UBS Group cut their price objective 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. 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 report on Monday, August 4th. Finally, Morgan Stanley upped their target price on shares of Edison International from $55.00 to $61.00 and gave the stock an "underweight" rating in a report on Thursday. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.