Edison International $EIX Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its position in Edison International (NYSE:EIX) by 5.3% in the second quarter, HoldingsChannel.com reports. The firm owned 364,525 shares of the utilities provider’s stock after purchasing an additional 18,412 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Edison International were worth $18,809,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EIX. Rakuten Securities Inc. lifted its position in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Edison International during the 1st quarter valued at $25,000. Investment Management Corp VA ADV lifted its position in shares of 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 during the last quarter. Kentucky Trust Co lifted its position in shares of 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 acquiring an additional 200 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Edison International during the 1st quarter valued at $35,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of NYSE:EIX opened at $53.46 on Thursday. The company’s fifty day moving average is $55.09 and its two-hundred day moving average is $54.55. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. Edison International has a 12-month low of $47.73 and a 12-month high of $88.64. The company has a market cap of $20.57 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the prior year, the business posted $1.23 earnings per share. Edison International’s revenue for the quarter 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. Equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.2%. Edison International’s dividend payout ratio is 48.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a research report on Wednesday. UBS Group cut their price objective on Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Barclays increased their price objective on Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Morgan Stanley cut their price objective on Edison International from $61.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.61.

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.