AustralianSuper Pty Ltd Has $10.06 Million Stake in Edison International $EIX

AustralianSuper Pty Ltd decreased its position in shares of Edison International (NYSE:EIX) by 59.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,883 shares of the utilities provider’s stock after selling 285,058 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Edison International were worth $10,056,000 at the end of the most recent reporting period.

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

Edison International Stock Performance

Shares of EIX opened at $56.96 on Tuesday. 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 stock has a 50-day moving average of $55.43 and a 200-day moving average of $54.48. The company has a market cap of $21.92 billion, a PE ratio of 8.36, a P/E/G ratio of 0.87 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) last issued its 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 during the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business 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 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.8%. Edison International’s dividend payout ratio (DPR) is currently 48.60%.

Wall Street Analyst Weigh In

EIX has been the subject of several analyst reports. Barclays raised their target price on Edison International from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Wells Fargo & Company began coverage on Edison International in a research report on Monday. They issued an “overweight” rating and a $56.00 price objective for the company. Morgan Stanley lifted their price objective on Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.55.

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.