Martingale Asset Management L P Sells 159,738 Shares of Edison International $EIX

Martingale Asset Management L P reduced its holdings in shares of Edison International (NYSE:EIX) by 55.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 126,364 shares of the utilities provider’s stock after selling 159,738 shares during the quarter. Martingale Asset Management L P’s holdings in Edison International were worth $7,445,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its holdings in Edison International by 98.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 5,454 shares during the last quarter. Tounjian Advisory Partners LLC acquired a new stake in Edison International during the 1st quarter worth approximately $1,151,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Edison International by 135.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider’s stock worth $7,297,000 after purchasing an additional 71,159 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Edison International by 4,157.4% during the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock worth $8,554,000 after purchasing an additional 141,769 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Edison International by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider’s stock valued at $150,961,000 after acquiring an additional 145,358 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EIX shares. Barclays lifted their price objective on Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley decreased their price target on Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 18th. Wolfe Research lowered Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. decreased their price target on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, May 19th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.21.

Edison International Price Performance

Shares of EIX opened at $53.8470 on Friday. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The business has a 50-day simple moving average of $52.35 and a two-hundred day simple moving average of $54.26. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The stock has a market cap of $20.72 billion, a PE ratio of 7.91, a PEG ratio of 1.32 and a beta of 0.75.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’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. Analysts anticipate 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 was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Monday, July 7th. Edison International’s payout ratio is 48.60%.

Edison International Company 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.