Plato Investment Management Ltd Raises Position in Edison International $EIX

Key Points

• Plato Investment Management Ltd increased its stake in Edison International by 78.5%, owning 78,561 shares valued at approximately $4.68 million.
• Edison International reported earnings of $0.97 per share, surpassing analysts' expectations, with quarterly revenue of $4.54 billion, a 4.8% increase from the previous year.
• The company's quarterly dividend was $0.8275 per share, resulting in an annualized dividend yield of 6.0%.

Plato Investment Management Ltd boosted its position in Edison International (NYSE:EIX - Free Report) by 78.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 78,561 shares of the utilities provider's stock after purchasing an additional 34,537 shares during the period. Plato Investment Management Ltd's holdings in Edison International were worth $4,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIX. Empowered Funds LLC increased its holdings in shares of Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider's stock valued at $523,000 after purchasing an additional 211 shares in the last quarter. KWB Wealth increased its stake in Edison International by 1.5% during the first quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock worth $869,000 after purchasing an additional 218 shares during the period. Presima Securities ULC increased its stake in shares of Edison International by 2.5% during 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 period. Private Advisor Group LLC increased its stake in shares of Edison International by 1.5% during the first quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock worth $1,047,000 after buying an additional 254 shares during the period. Finally, Investment Management Corp VA ADV boosted its holdings in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 265 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

NYSE:EIX traded up $0.05 during trading hours on Friday, reaching $56.27. The company had a trading volume of 2,204,128 shares, compared to its average volume of 2,987,982. The stock has a 50-day moving average of $53.79 and a two-hundred day moving average of $54.69. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $21.65 billion, a PE ratio of 8.26, a PEG ratio of 1.32 and a beta of 0.80. Edison International has a one year low of $47.73 and a one year high of $88.64.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced 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. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio is presently 48.60%.

Wall Street Analyst Weigh In

EIX has been the subject of several research analyst reports. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. UBS Group reduced their price objective on Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Barclays boosted their price target on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Edison International in a research report on Thursday, August 21st. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.15.

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.