Ballentine Partners LLC Raises Stake in Edison International $EIX

Ballentine Partners LLC grew its stake in shares of Edison International (NYSE:EIX) by 20.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,618 shares of the utilities provider’s stock after acquiring an additional 971 shares during the period. Ballentine Partners LLC’s holdings in Edison International were worth $290,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of EIX. AQR Capital Management LLC lifted its holdings in Edison International by 190.5% during the first 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 during the period. JPMorgan Chase & Co. raised its position in shares of 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 acquiring an additional 2,987,318 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its position in shares of 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 worth $258,997,000 after acquiring an additional 2,916,645 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Edison International by 38.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock worth $274,485,000 after purchasing an additional 1,289,062 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Edison International by 42.7% during the first quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider’s stock valued at $234,978,000 after purchasing an additional 1,194,296 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday. Wolfe Research downgraded Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. UBS Group decreased their price objective on Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, September 11th. JPMorgan Chase & Co. boosted their target price on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Barclays upped their target price on Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of “Hold” and an average target price of $71.75.

Edison International Stock Performance

NYSE EIX opened at $55.00 on Monday. The firm has a market capitalization of $21.17 billion, a P/E ratio of 8.08, a PEG ratio of 1.29 and a beta of 0.80. The stock has a 50-day simple moving average of $54.64 and a two-hundred day simple moving average of $54.69. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the previous year, the business posted $1.23 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be given a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.0%. Edison International’s payout ratio is 48.60%.

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.