Skandinaviska Enskilda Banken AB publ Sells 2,646 Shares of Edison International $EIX

Skandinaviska Enskilda Banken AB publ decreased its position in Edison International (NYSE:EIX) by 3.2% during the second quarter, HoldingsChannel.com reports. The fund owned 79,125 shares of the utilities provider’s stock after selling 2,646 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Edison International were worth $4,083,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position 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 valued at $150,961,000 after purchasing an additional 145,358 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Edison International by 64.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 85,883 shares of the utilities provider’s stock worth $5,060,000 after buying an additional 33,718 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of Edison International by 5.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock valued at $18,809,000 after buying an additional 18,412 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Edison International in the 2nd quarter valued at about $456,000. Finally, Voya Investment Management LLC grew its position in Edison International by 9.8% in the first quarter. Voya Investment Management LLC now owns 351,524 shares of the utilities provider’s stock worth $20,712,000 after acquiring an additional 31,488 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of Edison International stock opened at $58.11 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The stock’s fifty day moving average is $56.54 and its two-hundred day moving average is $54.64. Edison International has a 52 week low of $47.73 and a 52 week high of $88.00. The company has a market capitalization of $22.36 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85.

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

Edison International Announces Dividend

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

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. This represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EIX shares. Cowen began coverage on Edison International in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. TD Cowen started coverage on Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. UBS Group reduced their target price 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. Finally, Zacks Research raised shares of Edison International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. One research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.10.

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.