Edison International $EIX Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Edison International (NYSE:EIX) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 723,838 shares of the utilities provider’s stock after buying an additional 22,065 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Edison International worth $37,350,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in Edison International by 2.7% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock worth $383,000 after acquiring an additional 196 shares during the last quarter. Kentucky Trust Co grew its stake in Edison International by 66.7% during the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Edison International by 2.4% in the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 211 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Edison International by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock worth $3,818,000 after purchasing an additional 213 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Edison International by 21.7% in the second quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 217 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the transaction, the director owned 35,212 shares in the company, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on EIX. Wall Street Zen lowered Edison International from a “buy” rating to a “hold” rating in a research report on Sunday. Barclays cut their price objective on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. TD Cowen initiated coverage on shares of Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 target price for the company. Jefferies Financial Group increased their price target on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company upgraded Edison International to a “hold” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus target price of $64.30.

Edison International Stock Performance

EIX opened at $57.34 on Tuesday. The firm has a fifty day moving average price of $55.56 and a 200 day moving average price of $54.39. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64. The stock has a market cap of $22.06 billion, a P/E ratio of 7.50, a P/E/G ratio of 0.83 and a beta of 0.85. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81.

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

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 7th were issued a $0.8275 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.8%. Edison International’s dividend payout ratio is presently 43.27%.

About Edison International

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.