Empowered Funds LLC Has $18.55 Million Holdings in Edison International $EIX

Empowered Funds LLC decreased its position in shares of Edison International (NYSE:EIX) by 30.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 253,439 shares of the utilities provider’s stock after selling 110,142 shares during the quarter. Empowered Funds LLC owned about 0.07% of Edison International worth $18,547,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Edison International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock worth $3,134,268,000 after buying an additional 480,726 shares during the last quarter. State Street Corp raised its position in shares of Edison International by 3.0% in the 4th quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock worth $1,989,135,000 after acquiring an additional 953,800 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Edison International by 69.9% in the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after acquiring an additional 7,521,168 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Edison International by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock valued at $803,407,000 after purchasing an additional 386,905 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Edison International by 12.3% during the 4th quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock valued at $364,341,000 after purchasing an additional 662,477 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Performance

Shares of Edison International stock opened at $79.85 on Wednesday. The business has a 50-day simple moving average of $73.95 and a 200 day simple moving average of $70.73. Edison International has a one year low of $51.01 and a one year high of $81.62. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68. The firm has a market capitalization of $30.73 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 6.11 and a beta of 0.66.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. On average, research analysts anticipate that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be issued a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is currently 38.11%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America decreased their target price on Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Seaport Research Partners lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Wells Fargo & Company restated an “underweight” rating and set a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Finally, Truist Financial lowered their price objective on shares of Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus price target of $72.64.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.