DNB Asset Management AS Grows Position in Edison International $EIX

DNB Asset Management AS grew its holdings in Edison International (NYSE:EIX) by 17.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,365 shares of the utilities provider’s stock after buying an additional 28,625 shares during the period. DNB Asset Management AS’s holdings in Edison International were worth $10,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. Investment Management Corp VA ADV grew its stake in Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 265 shares in the last quarter. Kentucky Trust Co lifted its stake in Edison International by 66.7% in the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. American National Bank & Trust acquired a new position in shares of Edison International during the 2nd quarter worth approximately $32,000. Zions Bancorporation National Association UT acquired a new position in shares of Edison International during the 1st quarter worth approximately $35,000. Finally, Hilltop National Bank purchased a new stake in shares of Edison International in the second quarter valued at approximately $44,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EIX has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Barclays cut their target price on Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Monday, November 17th. Finally, Wells Fargo & Company upgraded shares of Edison International to a “hold” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus price target of $64.10.

Edison International Price Performance

NYSE:EIX opened at $58.55 on Friday. Edison International has a 52 week low of $47.73 and a 52 week high of $88.64. The stock’s fifty day moving average is $56.12 and its two-hundred day moving average is $54.55. The company has a market capitalization of $22.53 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.83 and a beta of 0.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s payout ratio is 43.27%.

Insider Activity at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the transaction, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.