Edison International $EIX Stock Position Raised by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Edison International by 10.1%, owning a total of 129,034 shares, worth approximately $7.59 million.
• Several institutional investors have significantly boosted their positions in Edison International, with JPMorgan Chase & Co. increasing their stake by 111.6% and Canada's pension fund raising its stake by 364.1%.
• The company's stock has experienced analyst sentiment shifts, with ratings ranging from a sell to a buy, resulting in a consensus rating of "Moderate Buy" and a price target of $75.21.

Resona Asset Management Co. Ltd. boosted its holdings in Edison International (NYSE:EIX - Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,034 shares of the utilities provider's stock after purchasing an additional 11,871 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Edison International were worth $7,587,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Edison International by 0.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock valued at $4,365,000 after buying an additional 218 shares during the period. KWB Wealth boosted its stake in Edison International by 1.5% in the first quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after acquiring an additional 218 shares during the period. Private Advisor Group LLC boosted its stake in Edison International by 1.5% in the first quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock valued at $1,047,000 after acquiring an additional 254 shares during the period. Investment Management Corp VA ADV grew its holdings 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 valued at $25,000 after purchasing an additional 265 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of Edison International by 11.5% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock worth $161,000 after purchasing an additional 281 shares during the period. Institutional investors own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of analyst reports. Barclays boosted their price objective on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Morgan Stanley reduced their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. decreased their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Nine 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.21.

Edison International Price Performance

Shares of EIX traded up $0.7730 during midday trading on Tuesday, reaching $56.4030. The stock had a trading volume of 598,805 shares, compared to its average volume of 4,416,884. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The company has a market capitalization of $21.71 billion, a P/E ratio of 8.27, a P/E/G ratio of 1.31 and a beta of 0.75. The firm's 50 day moving average price is $52.04 and its 200-day moving average price is $54.22. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released 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. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the company earned $1.23 earnings per share. Edison International's revenue 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. On average, analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were issued a $0.8275 dividend. 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 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.