Edison International $EIX Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its stake in shares of Edison International (NYSE:EIX) by 49.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 444,777 shares of the utilities provider’s stock after acquiring an additional 146,800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Edison International were worth $22,950,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its holdings in Edison International by 98.7% during the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider’s stock worth $647,000 after buying an additional 5,454 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Edison International by 135.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider’s stock worth $7,297,000 after buying an additional 71,159 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Edison International by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider’s stock worth $150,961,000 after buying an additional 145,358 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Edison International by 17.2% during the first quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider’s stock worth $6,324,000 after buying an additional 15,718 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. bought a new stake in Edison International during the first quarter worth approximately $399,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 2.1%

EIX stock opened at $53.65 on Wednesday. Edison International has a 12-month low of $47.73 and a 12-month high of $88.64. 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 company has a market cap of $20.64 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 1.29 and a beta of 0.80. The company has a 50 day moving average of $55.05 and a two-hundred day moving average of $54.56.

Edison International (NYSE:EIX) 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 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 the consensus estimate of $4.52 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’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, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be given a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. Edison International’s dividend payout ratio is presently 48.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a report on Saturday, September 27th. Barclays raised their price objective on shares of Edison International from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. raised their price objective on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Finally, Jefferies Financial Group lowered shares of Edison International from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $70.00 to $57.00 in a research note on Thursday, October 2nd. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus price target of $64.61.

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.