17,300 Shares in Edison International $EIX Purchased by Stoneridge Investment Partners LLC

Key Points

• Stoneridge Investment Partners LLC invested $1.02 million in Edison International by acquiring 17,300 shares during the first quarter.
• The stock price target for Edison International varies among analysts, with JPMorgan Chase lowering their forecast from $75 to $71, while Barclays increased it from $64 to $65.
• Edison International recently declared a quarterly dividend of $0.8275, yielding 5.9%, with a dividend payout ratio of 48.60%.

Stoneridge Investment Partners LLC purchased a new position in Edison International (NYSE:EIX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,300 shares of the utilities provider's stock, valued at approximately $1,019,000.

Several other hedge funds have also recently added to or reduced their stakes in EIX. JPMorgan Chase & Co. grew its position 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 last quarter. Northern Trust Corp grew its position in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. grew its position in Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after purchasing an additional 1,673,204 shares in the last quarter. Allianz Asset Management GmbH grew its position in Edison International by 1,946.0% during the 1st quarter. Allianz Asset Management GmbH now owns 1,255,449 shares of the utilities provider's stock worth $73,971,000 after purchasing an additional 1,194,088 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Edison International during the 1st quarter worth approximately $61,916,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Analysts Set New Price Targets

EIX has been the topic of several research analyst reports. Evercore ISI restated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley cut 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 report on Wednesday, June 18th. Barclays upped their price objective on shares of 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 cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $75.21.

Edison International Stock Performance

Shares of EIX traded up $1.7230 during midday trading on Friday, reaching $55.5330. The stock had a trading volume of 2,685,737 shares, compared to its average volume of 3,706,891. The firm has a 50 day simple moving average of $52.50 and a 200-day simple moving average of $54.29. Edison International has a one year low of $47.73 and a one year high of $88.77. The firm has a market cap of $21.37 billion, a PE ratio of 8.15, a P/E/G ratio of 1.27 and a beta of 0.75. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03.

Edison International (NYSE:EIX - Get Free Report) last posted 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 net margin of 16.00% and a return on equity of 11.99%. The company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the company posted $1.23 EPS. Edison International's quarterly 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. As a group, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were given a dividend of $0.8275 per share. The ex-dividend date was Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.0%. Edison International's dividend payout ratio is presently 48.60%.

Edison International Company Profile

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.