Panagora Asset Management Inc. Grows Stock Position in Edison International $EIX

Panagora Asset Management Inc. raised its position in Edison International (NYSE:EIX) by 55.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,159 shares of the utilities provider’s stock after acquiring an additional 10,005 shares during the quarter. Panagora Asset Management Inc.’s holdings in Edison International were worth $1,453,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Edison International in the second quarter valued at $268,801,000. AQR Capital Management LLC lifted its holdings in Edison International by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock worth $319,169,000 after buying an additional 3,559,602 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 worth $333,689,000 after buying an additional 2,987,318 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. boosted its position in Edison International by 197.2% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock valued at $258,997,000 after buying an additional 2,916,645 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Edison International by 4.9% during the second quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock valued at $2,655,858,000 after acquiring an additional 2,386,562 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.4%

NYSE:EIX opened at $57.55 on Friday. The company has a market cap of $22.14 billion, a PE ratio of 7.52, a P/E/G ratio of 0.86 and a beta of 0.83. The business’s 50 day moving average is $56.70 and its two-hundred day moving average is $54.67. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. Edison International has a 52 week low of $47.73 and a 52 week high of $85.92.

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

Edison International Dividend Announcement

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

Insider Activity at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction dated 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 sale, the director owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This represents a 4.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EIX. Wells Fargo & Company upgraded Edison International to a “hold” rating in a research note on Tuesday, October 28th. Barclays dropped their price objective on Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. TD Cowen started coverage on Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price on the stock. LADENBURG THALM/SH SH raised their price target on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $64.50.

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.