Brighton Jones LLC Takes $1.31 Million Position in Edison International $EIX

Brighton Jones LLC purchased a new stake in Edison International (NYSE:EIX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,370 shares of the utilities provider’s stock, valued at approximately $1,309,000.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Edison International by 1.0% during the first 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 in the last quarter. Invesco Ltd. boosted its holdings in shares of Edison International by 19.8% in the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock valued at $340,000,000 after buying an additional 953,897 shares during the period. JPMorgan Chase & Co. lifted its stake in Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after acquiring an additional 2,987,318 shares in the last quarter. AQR Capital Management LLC grew its position in Edison International by 190.5% in the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after purchasing an additional 3,559,602 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Edison International by 38.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock valued at $274,485,000 after acquiring an additional 1,289,062 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Down 1.5%

NYSE:EIX opened at $56.96 on Tuesday. The firm’s fifty day moving average is $55.43 and its 200-day moving average is $54.48. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. Edison International has a 52 week low of $47.73 and a 52 week high of $88.64. The firm has a market cap of $21.92 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.87 and a beta of 0.80.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the firm posted $1.23 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, October 7th. Edison International’s payout ratio is presently 48.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EIX shares. UBS Group lowered their price objective on shares of Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Cowen initiated coverage on shares of Edison International in a research note on Wednesday, October 15th. They issued a “buy” rating for the company. Morgan Stanley lifted their price objective on shares of Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group boosted their target price on shares of Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company began coverage on shares of Edison International in a research report on Monday. They issued an “overweight” rating and a $56.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Hold” and an average price target of $64.55.

Edison International 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.